Import of vegetable oils to India increased by 18% in June, reaching 1.55 million tons, including palm and sunflower oil.

Import of vegetable oils, including food and non-food options, increased by 18% in June, reaching 1.55 million tons. This growth was driven by an increase in imports of crude palm and sunflower oils, according to trade data.

Data provided by the Solvent Extractors' Association of India (SEA) shows that vegetable oil imports in June 2024 totaled 1,550,659 tons, which is 236,183 tons more than the previous year.

Imports of food oils also grew in June, reaching 1,527,481 tons, comparable to 1,311,576 tons the previous year. Meanwhile, non-food oil imports saw a significant increase, reaching 23,178 tons compared to 2,300 tons in the previous period.

For the first eight months of the current agricultural year, ending in October, vegetable oil imports decreased by 2%, amounting to 10,229,106 tons compared to 10,483,120 tons for the same period the previous year.

SEA information revealed that refined oil imports also decreased by 2%, totaling 1,381,818 tons from November 2023 to June 2024, which is 21,763 tons less than the previous year.

Imports of raw food oils also decreased by 3%, reaching 8,713,347 tons compared to 8,963,296 tons. The share of refined oils (RBD Palmolein) and the share of raw oils remained unchanged.

From November 2023 to June 2024, palm oil imports decreased to 5,763,367 tons from 6,031,529 tons the previous year. Import of soft oil also decreased to 4,331,799 tons, comparable to 4,335,349 tons.

India continues to import palm oil from Malaysia and Indonesia, and soybean oil from Brazil and Argentina.