Soy Oil Imports from Latin America Booked for July

02-Dec-2025 06:10 PM

Mumbai. In an unusual development, Indian refiners have contracted to import large quantities of soybean oil from Latin American countries, primarily Argentina and Brazil, for shipments in the distant months.

According to a leading industry analyst, contracts have been signed to purchase over 650,000 tons of soybean oil for the four months from April to July 2026. Of this, over 150,000 tons have been purchased for each month, as its price is reported to be $20 to $30 per tonne lower than crude palm oil (CPO).

Meanwhile, heavy soybean oil purchases are continuing for the January-March 2026 quarter. This suggests that soybean oil imports could rise to new record levels in the current 2025-26 marketing season.

It is noteworthy that during the 2024-25 marketing season (November-October), total soybean oil imports in the country reached a peak of over 5.4 million tonnes.

The export offer price of CPO is usually lower than that of crude degummed soybean oil, encouraging refiners to increase imports.

However, when the situation reverses, soybean oil imports increase. It is believed that the B-50 program is going to be implemented in Indonesia next year, which may lead to a rise in palm oil prices, and hence, Indian importers have contracted large imports of soybean oil.