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Trade Trends News
13-06-2025
An industry body stated on June 12 that, due to low stockpiles and palm oil’s price advantage over rival oils like soybean and sunflower, India's May palm oil imports jumped to the highest level in six months, prompting refineries to ramp up purchases.
As the world's largest buyer of vegetable oils, India’s increased imports of palm and soybean oils may support palm oil prices in Malaysia and soybean oil futures in the United States.
According to the Solvent Extractors' Association of India (SEA), palm oil imports in May surged by 84% from April to 592,888 metric tons — the highest since November 2024.
SEA also noted that India is averaging over 750,000 tons of palm oil imports per month in the current marketing year ending October 2024.
Soybean oil imports rose 10.4% to 398,585 tons, the highest since January; sunflower oil imports were up 1.9% to 183,555 tons.
Overall, India’s vegetable oil imports in May rose 33% from the previous month to 1.19 million tons, the highest total since December, driven by stronger palm and soybean oil imports.
Southeast Asian data showed that from January to April, import volumes were below average, causing India’s vegetable oil stocks to drop to 1.33 million tons by June 1 — the lowest since July 2020.
Rajesh Patel, executive partner at edible oil trader GGN Research, noted that palm oil imports may increase further in June to around 850,000 tons due to its lower trading price compared to soybean oil. He added that soybean oil imports in June are expected to remain steady at around 400,000 tons.
India mainly imports palm oil from Indonesia and Malaysia, while soybean and sunflower oils are sourced from Argentina, Brazil, Russia, and Ukraine.
A New Delhi-based trader mentioned that with tariff reductions in place this month to stimulate demand, vegetable oil imports are expected to rebound in the coming months.
India has halved the basic import duty on crude edible oils to 10% to ease food inflation and support the domestic refining industry.
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