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India’s palm oil imports jumped 11 per cent to a six-month high in February, as a wider discount versus rival oils prompted refiners to boost purchases and curb sunflower oil imports, a leading trade body said.
India’s increased imports of palm oil and soyoil could reduce stocks in Indonesia and Malaysia, boosting Malaysian palm oil and US soyoil futures. Palm oil imports in February rose to 847,689 metric tonnes, the highest since August 2025, from 766,384 tonnes in January, the Mumbai-based Solvent Extractors’ Association of India (SEA) said in a statement.
India’s palm oil imports in March could fall to around 800,000 tonnes as its price discount to soyoil has now narrowed to just $20 per tone from $100 a month ago, said a Mumbai-based dealer with a global trade house. Imports of soyoil in February rose 7 per cent to 299,046 tonnes from the previous month, which was a 19-month low, and sunflower oil imports were down about 45 per cent to 145,308 tonnes, the SEA said. Total vegetable oil imports fell 2 per cent to 1.32 million tonnes due to the sharp drop in sunflower oil purchases, the statement added.
India buys palm oil mainly from Indonesia and Malaysia, and imports soyoil and sunflower oil from Argentina, Brazil, Russia, and Ukraine. Rising vegetable oil prices and freight rates are pushing Indian buyers toward prompt shipments amid concerns deliveries of newly purchased soyoil and sunflower oil could be delayed by the Middle East conflict, five dealers said earlier this week.
Reuters
