Patchy Indian monsoon set to cheer palm traders 3,000 miles away

Faltering monsoon rains in India are posing a risk to domestic soybean and peanut crops, and may prompt the world’s biggest palm oil importer to boost purchases from top growers Indonesia and Malaysia.

The world’s second-most populous nation, where eating fried food is a national tradition, depends on overseas suppliers for as much as 70% of its edible oil needs. Concerns are growing that deficient monsoon rains this year could hurt crops, raise food prices, threaten a nascent economic recovery and boost imports of farm goods.

Inbound shipments of palm oil will be higher in the year starting on Nov.