Import of edible oils expected to fall by 12 percent in February

06-Mar-2025 02:00 PM

The import of edible oils in India is expected to decrease by 12% in February 2025, bringing the total to 8.84 lakh tonnes.

This is the lowest import level since February 2021. As a result, the country's edible oil stock is projected to fall by 26%, reaching only 16 lakh tonnes by March 1, marking the lowest level in over four years. Consequently, analysts predict that imports will rise in March to replenish stocks.

A significant shift in oil imports occurred, with palm oil imports rising by 36%, reaching 3.74 lakh tonnes compared to January 2025.

This increase in palm oil imports can be attributed to a sharp drop in imports in January, which were the lowest since March 2011. However, soybean oil imports fell by 36% to 2.84 lakh tonnes, and sunflower oil imports dropped by 22% to 2.26 lakh tonnes.

These declines are partly driven by high prices in exporting countries, which are affecting the imports.

Palm oil is primarily sourced from Indonesia, Malaysia, and Thailand, while soybean oil is imported from Argentina and Brazil, and sunflower oil comes from Russia, Ukraine, Romania, and Argentina.

Despite the uptick in palm oil imports, its price is still higher than both soybean and sunflower oils. Moreover, Brazil has started to see a strong arrival of new soybean consignments, which could potentially affect the oil market in the coming months