The Indian government is planning to develop domestic edible oil production in order to reduce its reliance on foreign sources. Imports in the 12 months to Jul. 31 were dominated by palm oil, which rose by 28.9% year over year to reach $9.21 billion. Imports of soybean oil fell 13.0% to $3.47 billion while other seed oils dropped by 14.1% to $2.96 billion over the same period. A 5.6% year over year drop in palm oil prices in the three months to Sept. 30 followed by a further 0.4% in October shows the degree of oversupply. Major importers have been restructuring their imports of palm o...