India’s palm oil imports rose 51% in January, reaching a four-month high.
India’s palm oil imports surged 51% in January to 766,384 tonnes—the highest in four months—on a $100/tonne discount to soybean oil, said the Solvent Extractors’ Association of India. Meanwhile, soybean and sunflower oil imports fell sharply, trimming overall edible oil inflows.
India’s palm oil imports rose 51% in January from the previous month, reaching their highest level in four months, as a deeper discount to rival soybean oil prompted processors to increase purchases of the tropical oil, while soybean oil imports fell to a 19-month low.
Rising palm oil imports into India, the world’s largest buyer of vegetable oils, could help draw down inventories at leading producers Indonesia and Malaysia, supporting Malaysian palm oil futures and putting pressure on US soybean oil futures.
India imported 766,384 metric tonnes of palm oil last month, the highest since September 2025, the India Palm Oil Association (SEA) said on Friday.
Soybean oil imports fell more than 44% to 278,888 tonnes, the lowest since June 2024, while sunflower oil imports fell 23.8% to 266,575 tonnes, an industry trade body said.
India’s total edible oil imports in January fell 3.7% month-on-month to 1.31 million tonnes due to lower imports of soybean and sunflower oils, data showed.
India’s vegetable oil stocks fell to 1.75 million tonnes as of February 1 from 2.18 million tonnes a year earlier, driven by lower imports in recent months, according to Southeast Asia data.
“Palm oil is currently trading at a discount of over $100 per tonne compared to soybean oil, making it a much more attractive option for Indian refiners,” said a Mumbai-based dealer working for an international trading company.
Palm oil imports are expected to exceed 800,000 tonnes in February as Indian buyers switch from expensive sunflower oil to more affordable palm oil, he said.
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Source : Ukr Agro Consult
