We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry. current time
India’s Edible Oil Imports Surge as Refiners Build Stocks for Festive Season
Indian refiners sharply increased edible oil purchases in August as they prepared for stronger festive-season demand and took advantage of competitive prices. The buying pushed imports of palm oil and soyoil higher, while sunflower oil shipments declined amid disruptions in the Black Sea region.
Palm oil imports rose 7% from July to around 780,000 tonnes, marking the highest level in six months. Soyoil imports climbed 21% to a record 601,000 tonnes, supported by its price advantage over palm oil. In contrast, sunflower oil imports dropped 38% to 157,000 tonnes, their lowest level in six months.
Overall edible oil imports increased 4% month-on-month to an 11-month high of 1.54 million tonnes. These figures do not include duty-free supplies entering India through Nepal. Around 100,000 tonnes of edible oils, including nearly 90,000 tonnes of soyoil, arrived through this route during August.
The increase in imports comes ahead of India’s major festival period, which runs from August through November and generally brings a seasonal rise in edible oil consumption. Refiners also found near-term shipments more economical than deliveries scheduled for later months, encouraging additional stock-building.
Soyoil gained further ground in India’s import basket as it remained competitively priced, while sunflower oil supplies were affected by renewed disruptions linked to the Russia-Ukraine conflict. India mainly sources palm oil from Indonesia and Malaysia, while Argentina, Brazil, Russia and Ukraine are key suppliers of soyoil and sunflower oil.
The stronger Indian demand could help reduce inventories in major producing countries and provide support to global palm oil and soyoil markets. Import activity is also expected to remain elevated in September as refiners continue preparing for the peak consumption period.
