India’s edible oil imports remain flat in oil year 2024-25, import bill surges on higher prices
India imported 160.1 lakh tonnes of edible oil worth ₹1.61 lakh crore in 2024–25, up 22.9% in value from the previous year despite flat volumes. Palm and sunflower oil imports declined, while soybean oil rose. Refined oil imports from Nepal surged under the duty-free SAFTA agreement.
India imported 160.1 lakh tonnes (lt) of edible oil worth ₹1.61 lakh crore ($18.3 billion) during the oil year 2024-25 (November-October) against 159.6 lt worth ₹1.31 lakh crore ($15.90 billion) in the oil year 2023-24. While the imports recorded flat growth, the value of imported commodities increased by 22.9 per cent in rupee terms.
Data compiled by the Solvent Extractors’ Association of India (SEA) showed a decline in the import of palm oil (includes crude palm oil and RBD palmolein) and sunflower oil. However, there was an increase in the import of soybean oil.
BV Mehta, Executive Director of SEA, said the Government increased the duty difference between crude and refined oils from 8.25 per cent to 19.25 per cent with effect from May 31, 2025. This resulted in the stoppage of the import of refined palm oil. However, a large quantity of refined soybean and sunflower oil was shipped to India from Nepal under SAFTA agreement at nil duty.
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Source : The Hindu Business line
