India’s palm oil imports soared by 84% in May 2025, reaching a six-month high of 592,888 metric tons, according to data released by the Solvent Extractors’ Association of India (SEA). This sharp increase was driven by declining domestic inventories and an expanding price discount between palm oil and rival soft oils such as soyoil and sunflower oil.
On Thursday, oil prices remained steady following a recent increase that reached their highest levels since February. The market is currently influenced by several factors affecting price movements: new U.S. tariffs, reduced oil reserves in the U.S., and uncertainty surrounding global supply.
Recent discussions in the global oil market have been dominated by the introduction of new tariffs on oil imports from Canada and Mexico. Announced by U.S. President Donald Trump, these tariffs are a response to domestic challenges, including fentanyl distribution and illegal immigration. The implications for the U.S. economy and its standing in global trade could be significant.
President Donald Trump's decision to impose tariffs on oil imports from Canada and Mexico has sparked discussion among analysts and fuel market participants. This initiative, part of Trump's trade strategy, introduces new challenges to the U.S. economy and affects domestic gasoline prices.
