India’s Soyoil Imports to Hit Record, Palm Oil at Five-Year Low
13-Aug-2025 10:41 AM
India’s Soyoil Imports to Hit Record, Palm Oil at Five-Year Low
★ India’s soyoil imports in 2024/25 are expected to jump 60% year-on-year to a record level, as refiners increase purchases due to cheaper prices compared to palm oil, whose imports may fall to a five-year low.
★ In the 2024/25 marketing year (ending October), soyoil imports could rise from 3.44 million tonnes to 5.5 million tonnes.
★ During the same period, palm oil imports may fall 13.5% to 7.8 million tonnes — the lowest since 2019/20.
★ Sunflower oil imports may drop 20% to 2.8 million tonnes, the lowest in the last three years.
★ This rise in soyoil buying could lift India’s total edible oil imports by 1% to 16.1 million tonnes.
★ Due to tight supply in Malaysia and Indonesia, crude palm oil was priced up to US\$150 per tonne higher than crude soyoil earlier this year.
★ India is also likely to purchase over 600,000 tonnes of soyoil from Nepal this year.
★ Festive demand is expected to push edible oil prices higher in the coming days.