India has canceled up to 75,000 tonnes of soybean oil import contracts as global prices surged to $1,140–$1,147.50 per tonne, forcing buyers to exit earlier agreements signed at $1,080–$1,100. The cancellations allow importers to lock in $40–$60 per tonne profits. This move highlights volatility in the global edible oil market amid shifting supply-demand dynamics. The decision could impact global commodity prices and trade flows, particularly in Asia, where India is a major importer.
Live
