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Informist, Wednesday, Mar. 5, 2025

 

By Anjali Lavania

 

MUMBAI – India's edible oil imports are estimated to have fallen to 884,055 tonnes in February on lower imports of most soft oils, including soyoil and sunflower oil, according to the Sunvin Group. India imported around 869,759 tonnes of edible oil in January, according to estimates shared by the Sunvin Group.

 

However, data from The Solvent Extractors' Association of India show that vegetable oil imports consisted of 1.00 million tonnes of edible oils and 41,614 tonnes of non-edible oils in January. Edible oil imports in January had fallen 15% on year. India's edible oil import basket comprises crude palm oil, soyoil, and sunflower oil. 

 

Going by historical data, palm oil imports have nearly halved since August, but they are estimated to have increased in February, while soft oil imports, including soyoil and sunflower oil, have fallen on account of higher overseas prices and adundant domestic supply, Sunvin Group Chief Executive Officer Sandeep Bajoria told Informist.

 

"Overall, edible oil import numbers in February are seen below 1.00 million tonnes," Bajoria said. "On average we have been getting 1.25 million tonnes or 1.30 million tonnes edible oil per month. This shows there is enough oil in the country, including both domestic and imported."

 

Crude palm oil imports in February are estimated to have risen to 375,043 tonnes from 242,212 tonnes a month ago, according to the Sunvin Group. A few months ago, palm oil became one of the costlier oils globally owing to a fall in supply. Prices have since come down, which has led to an increase in imports in February, Bajoria said. 

 

India's crude soyoil imports are estimated to have fallen 16% on month to 288,737 tonnes in February. Similarly, crude sunflower oil imports are estimated to have fallen 23% on month to 220,275 tonnes. "Soft oil imports have declined due to the ongoing harvest months, leading to abundant supplies coming into the domestic markets," Bajoria said. "Also, demand is low due to higher prices. If all these reasons are put together, even these low levels of imports are more than sufficient to take care of the country's needs." Overall, demand for edible oils in India has fallen 5-8% from last year, he added.

 

March shipment contract prices are currently at about $1,160 per tonne for crude palm oil, $1,110 per tonne for soyoil, and $1,200 per tonne for sunflower oil, Bajoria said. 

 

The SEA is scheduled to release data on the import of edible oils in February by Mar. 15. India imports palm oil from Indonesia, Malaysia, and Thailand and soyoil and sunflower oil from Argentina, Brazil, Ukraine, and Russia.  End

 

Edited by Rajeev Pai

 

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