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Informist, Tuesday, Mar. 4, 2025

 

By Anjali Lavania

MUMBAI – India's edible oil imports are estimated to have declined to a four-year low of 884,000 tonnes in February due to lower imports of soft oils, including soyoil and sunflower oil, according to estimates by GGN Research, accessed by Informist. India's edible oil imports stood at 1.0 million tonnes in January and 968,000 tonnes in February last year, according to the data.  

 

"This represents a 12?crease from the previous month and a 9?crease from the same month last year. This is the lowest monthly import after February 2021," said Rajesh G. Patel, managing partner of GGN Research.

 

Sunflower oil imports are estimated to have fallen 21% on month to 228,000 tonnes in February, the data showed. Also, the imports are down 23% on year. In February last year, sunflower oil imports were at 297,000 tonnes, according to the data. 

 

Similarly, soyoil imports saw a significant drop, hitting an eight-month low of 284,000 tonnes in February. "This is a 36?crease from the previous month, though it has grown 64% when compared to February 2024," Patel said. "Higher overseas prices, combined with increased local edible oil supplies, led refiners to decrease imports in February."

 

As on Mar. 1, vessels carrying 286,000 tonnes of edible oil were set to arrive in the next few days. Of this, 82,000 tonnes is palm oil, 155,000 tonnes soyoil, and 49,000 tonnes is sunflower oil, the report said.

 

On the other hand, total palm oil imports in February are estimated to have increased 35% to 372,000 tonnes from 275,000 tonnes in January. However, imports in February are estimated to be 25% lower compared to a year ago, Patel said. Palm oil imports improved after seeing the lowest level in 13 years in January at 240,276 tonnes, according to data by the Solvent Extractors' Association of India. 

 

After the decline in edible oil imports in first two months of the year, there could be an increase in March, Patel said.  

 

Nepal's edible oils imports through Indian ports totalled 74,000 tonnes in February – 60,000 tonnes of soyoil, and 14,000 tonnes of sunflower oil, Patel said. This data is not included in the estimated figures for the month. 

 

The Solvent Extractors' Association of India is scheduled to release data on imports of edible oil for February by Mar. 15. India imports palm oil from Indonesia, Malaysia, and Thailand, and imports soyoil and sunflower oil from Argentina, Brazil, Ukraine and Russia.  End

 

Edited by Avishek Dutta

 

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