USDA Forecasts Sharp Decline in Soybean Oil Imports

07-Apr-2026 11:25 AM

Mumbai. The U.S. Department of Agriculture (USDA) states that during the 2024-25 marketing season (November–October), India's soybean oil imports surged to an all-time high of 5.471 million tonnes; however, this figure is projected to contract to 4.250 million tonnes in the 2025-26 season.

Nevertheless, this would still represent the second-highest import volume on record. Previously, 4.231 million tonnes of soybean oil were imported during the 2021-22 season, followed by 3.968 million tonnes in 2022-23, and 3.308 million tonnes in the 2023-24 season.

According to the USDA report, during the upcoming 2025-26 marketing season, the total availability of soybean oil in India is expected to reach 7.447 million tonnes, comprising a carry-over stock of 1.527 million tonnes from the previous season, a domestic production of 1.670 million tonnes, and projected imports of 4.250 million tonnes.

Of this total, domestic consumption of soybean oil is estimated at 6.570 million tonnes, with exports projected at 15,000 tonnes. Consequently, a surplus stock of 862,000 tonnes is expected to remain at the end of the marketing season. India primarily imports soybean oil from Argentina and Brazil.