India’s Feb palm oil imports jump 11% to six-month high on price discount
India’s palm oil imports rose 11% in February to a six-month high of 847,689 tonnes as lower prices compared with rival oils encouraged refiners to increase purchases and cut sunflower oil imports. However, imports may ease in March as the price discount of palm oil to soyoil narrows and freight costs rise.
MUMBAI: India’s palm oil imports jumped 11% to a six-month high in February, as a wider discount versus rival oils prompted refiners to boost purchases and curb sunflower oil imports, a leading trade body said on Thursday.
India’s increased imports of palm oil and soyoil could reduce stocks in Indonesia and Malaysia, boosting Malaysian palm oil and U.S. soyoil futures. Palm oil imports in February rose to 847,689 metric tons, the highest since August 2025, from 766,384 tons in January, the Mumbai-based Solvent Extractors’ Association of India (SEA) said in a statement.
India’s palm oil imports in March could fall to around 800,000 tons as its price discount to soyoil has now narrowed to just $20 per ton from $100 a month ago, said a Mumbai-based dealer with a global trade house. Imports of soyoil in February rose 7% to 299,046 tons from the previous month, which was a 19-month low, and sunflower oil imports were down about 45% to 145,308 tons, the SEA said. Total vegetable oil imports fell 2% to 1.32 million tons due to the sharp drop in sunflower oil purchases, the statement added.
India buys palm oil mainly from Indonesia and Malaysia, and imports soyoil and sunflower oil from Argentina, Brazil, Russia, and Ukraine. Rising vegetable oil prices and freight rates are pushing Indian buyers toward prompt shipments amid concerns deliveries of newly purchased soyoil and sunflower oil could be delayed by the Middle East conflict, five dealers said earlier this week.
India has long depended on Russia and Ukraine for sunflower oil, but the current conflict, along with possible Red Sea and Suez Canal disruptions, could raise logistics costs, and constrain supply, the SEA said.
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Source : The Economic Times
