India Buys 500,000 Tonnes of Soyoil from Argentina in Four Days
29-Sep-2025 10:49 AM
India Buys 500,000 Tonnes of Soyoil from Argentina in Four Days
★ India imported 500,000 tonnes of soyoil from Argentina, while China bought 1 million tonnes of soybeans.
★ Argentina had temporarily removed export duties on soybeans, maize, wheat and their by-products last Monday, leading to large-scale imports.
★ During these four days, India purchased soyoil from Argentina at $1,100 per tonne — $30–40 lower than previous prices.
★ Argentina granted this exemption to boost foreign currency inflows, but reimposed the duties on Wednesday after reaching its $7-billion export target.
★ India typically imports about 300,000 tonnes of soyoil every month. Between November and August of 2024–25, India imported 2.4 million tonnes of crude soybean degummed oil from Argentina.
★ Heavy rains in India have damaged the soybean crop and harvesting is yet to begin, so soyoil imports from Argentina may rise further in the coming days. As of September 19, the area under soybean was down 5% year-on-year to 12.04 million hectares, and the total oilseed area had fallen 3% to 19 million hectares.