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 Hit 1.54 Million Tonnes Due To Festive Demand
India’s edible oil import basket shifted strongly towards palm oil and soyoil in August as refiners stepped up purchases ahead of the festive season. Attractive soyoil prices and disruptions to sunflower oil supplies from the Black Sea region encouraged buyers to increase purchases of alternative oils. Total edible oil imports rose 4 per cent from July to an estimated 1.54 million tonnes in August, the highest level in 11 months. The increase was led by higher shipments of palm oil and soyoil as refiners moved to secure supplies ahead of the period when domestic consumption typically strengthens. Palm oil imports increased 7 per cent month-on-month to around 780,000 tonnes, marking their highest level in six months. Soyoil imports rose 21 per cent to a record 601,000 tonnes. Sunflower oil shipments, however, declined 38 per cent from the previous month to a six-month low.
The reported import figures do not include duty-free edible oil entering India by land from neighbouring Nepal. Such shipments were estimated at around 100,000 tonnes in August, of which approximately 90,000 tonnes were soyoil. The Solvent Extractors’ Association of India was scheduled to release its official August import data in mid-September. Refiners increased buying as the festive period approached, when edible oil consumption generally rises across India. Buying was also supported by the relative cost advantage of nearby cargoes compared with shipments scheduled for later delivery, prompting refiners to build inventories earlier. Soyoil became particularly attractive because of its competitive pricing against palm oil. At the same time, sunflower oil supplies from the Black Sea region were disrupted amid the escalation of the Russia-Ukraine conflict. Reduced availability of sunflower oil encouraged Indian buyers to shift towards soyoil and palm oil.
India relies substantially on imports to meet its vegetable oil requirements. Indonesia and Malaysia remain the principal sources of palm oil, while soyoil is sourced mainly from Argentina and Brazil. Sunflower oil supplies largely come from Russia and Ukraine. The increase in Indian buying could have wider implications for international vegetable oil markets. Stronger demand from India may help leading producers, including Indonesia, Malaysia and Argentina, reduce accumulated stocks while providing support to global palm oil and soyoil prices. With refiners entering the festive season with larger inventories, import activity is expected to remain elevated in September. The continued strength of Indian demand will remain an important factor for global vegetable oil markets, particularly as refiners balance domestic consumption requirements with changing prices and supply conditions in major exporting regions.
