India’s edible oil imports hit a 7-month low in November
India’s edible oil imports likely fell to a seven-month low in November, estimated at 1.12–1.17 million tonnes due to reduced soybean and sunflower oil purchases. Higher prices for these oils shifted demand toward cheaper palm oil, though overall palm imports remain lower year-on-year despite a month-on-month rise.
India’s overall edible oil imports are likely to have fallen to a seven-month low due to lower imports of soybean and sunflower oils, according to trade and industry sources.
According to estimates from leading market participants surveyed by Informist , edible oil imports in November will amount to 1.12–1.17 million tons, which is 25–28% less than a year earlier.
According to the Edible Oils Association of India (SEA), the country imported 1.3 million tonnes of vegetable oils in October. Total vegetable oil imports in 2024/25 reached 16.4 million tonnes, up from 16.2 million tonnes the previous year.
A decline in oil imports, primarily soybean, rapeseed, and sunflower, led to an overall decline in edible oil supplies in November, although palm oil imports increased compared to the previous month, according to market participants. It was previously reported that India favors palm oil over all other oils due to low prices.
Prices for soybean and sunflower oils are significantly higher than those for palm oil, which is why palm oil imports were higher in November. The sunflower harvest in Ukraine and Russia will be lower this year, which will support sunflower oil prices, said Rahul Chauhan, Director of IGrain India Pvt. Ltd.
Despite the short-term increase in tropical oil purchases, on a year-on-year basis, “India’s palm oil imports are estimated to have fallen nearly 26% year-on-year to 624,000 tonnes in November, as palm oil became more expensive than its alternative, soybean oil, earlier this year,” said Sunvin Group CEO Sandeep Bajoria.
It was previously reported that India’s palm oil imports in November rose to 630,000 tonnes, up 4.6% from October. Meanwhile, soybean oil imports fell 12% to 400,000 tonnes, and sunflower oil imports fell 44%, reaching a two-year low of 145,000 tonnes.
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Source : Ukr Agro Consult
