Import Cost of Agricultural Products Rises to $27 Billion Due to Pulses and Edible Oils

22-Apr-2025 08:20 PM

Mumbai. India's agricultural import bill surged by over 20% in the financial year 2024-25, reaching $27 billion, up from $22.13 billion in 2023-24, primarily driven by increased imports of edible oils, pulses, and cotton. Rising global prices also contributed to the higher expenditure.

Edible oils remained the top imported agricultural commodity, with import costs rising 16.55% from $14.87 billion to $17.33 billion.

Despite stable volumes of 155–160 lakh tonnes, the high cost of palm oil inflated the overall import bill. Substitution with soybean and sunflower oil also grew amid price hikes.

From November 2024 to March 2025, India imported 58 lakh tonnes of vegetable oil, slightly down from 58.30 lakh tonnes the previous year.

The import cost of pulses hit a record $5.47 billion in 2024-25, a sharp rise from $3.74 billion in 2023-24. The increase was driven by duty-free imports of tur, urad, lentils, yellow peas, and desi gram, aimed at controlling domestic prices.

Rising import costs of fruits, vegetables, and cotton also contributed to the surge in the overall agricultural import bill.