India’s Edible Oil Imports Show Mixed Trends in January

India’s edible oil imports witnessed a mixed performance in January, with overall volumes declining 3.5% month-on-month to 1.32 million metric tons. The drop was led by reduced sunflower and soybean oil imports, while palm oil imports recorded a sharp rise, reflecting changing consumption and pricing trends.

Industry dealers noted that sunflower oil imports fell to 269,000 metric tons, while soybean oil imports dropped to 280,000 metric tons the lowest in 19 months. In contrast, palm oil imports surged to 766,000 metric tons, marking their highest level in four months.

Key Highlights

• Overall Imports: Down 3.5% M/M to 1.32 million metric tons.
• Sunflower Oil: Fell to 269,000 metric tons.
• Soybean Oil: Declined to 280,000 metric tons, lowest in 19 months.
• Palm Oil: Jumped to 766,000 metric tons, highest in four months.
• Market Drivers: Price competitiveness, global supply dynamics, and consumer demand shifts.

Analysts suggest palm oil’s relative affordability compared to other edible oils is driving its resurgence, while soybean and sunflower oil imports remain subdued due to higher international prices and supply constraints.

Sources: Reuters, Bloomberg, Economic Times