Import of edible oils fell to 8.85 lakh tonnes in February
11-Mar-2025 05:40 PM
India's edible oil imports experienced a notable decline in February 2025, reaching their lowest level in four years.
Total imports of edible oils, including palm oil, soybean oil, and sunflower oil, fell to 885,561 tonnes in February 2025, down from 1,007,551 tonnes in January and 958,852 tonnes in February 2024.
This decrease led to a significant reduction in inventories, bringing them to a three-year low. As of March 1, 2025, India's edible oil stocks had decreased by 14% from the previous month to 1.87 million tonnes.
Despite the monthly decline, cumulative imports for the first four months of the 2024-25 oil year (November 2024 to February 2025) showed a slight increase.
Total vegetable oil imports during this period reached 4,807,798 tonnes, up from 4,638,963 tonnes in the same period last year.
The composition of these imports has also shifted. In February 2025, palm oil imports rose by 35.7% from January to 373,549 tonnes.
However, imports of soyoil and sunflower oil experienced notable declines, with soyoil imports falling by 36% to 283,737 tonnes and sunflower oil imports dropping by 20.8% to 228,275 tonnes.
This trend reflects a broader shift in India's edible oil import patterns, with palm oil's market share decreasing from 56% to 43% over the past year.
Factors such as supply disruptions in Indonesia and Malaysia, increased biodiesel use in Indonesia, and a rising price premium have contributed to this shift. Consequently, Indian refiners are favoring more affordable soyoil and sunflower oil.