Soy oil imports surge 36.8 per cent to hit highest since July 2022; total edible oil imports slip 1 per cent
India’s palm oil imports fell 16.31 per cent month-on-month in September 2025 to 8,29,017 metric tonnes, marking their lowest level since May, as refiners turned to cheaper soft oils amid volatile prices, according to data released by the Solvent Extractors’ Association of India (SEA).
The world’s largest importer of vegetable oils, India’s lower palm oil purchases are expected to weigh on Malaysian palm oil futures while supporting U.S. soyoil prices, industry analysts said.
Soyoil imports rose 36.8 per cent month-on-month to 5,03,240 tonnes in September, the highest level since July 2022, as refiners capitalised on more competitive pricing. Sunflower oil imports increased nearly 6 per cent to 2,72,386 tonnes, reaching their highest since January, SEA data showed.
Despite the rise in soft oil imports, India’s total edible oil imports slipped 1 per cent month-on-month to 1.60 million tonnes in September.
Shift Driven By Price Advantage
Market participants said refiners switched to soyoil after palm oil prices climbed relative to other edible oils. India’s palm oil imports could fall further to around 6,00,000 tonnes in October, while soyoil imports are expected to exceed 4,50,000 tonnes.
India made a record two-day purchase of 3,00,000 tonnes of soyoil from Argentina between 23 and 24 September — the largest ever in such a short span, after Buenos Aires temporarily scrapped export taxes on soybeans and other agricultural products. The policy move made Argentine soyoil significantly cheaper for Indian buyers.
India primarily sources palm oil from Indonesia and Malaysia, while soyoil and sunflower oil come mainly from Argentina, Brazil, Russia, and Ukraine.
