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India’s palm oil imports surge 11% to six-month high on price discounts
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Saturday, 14 March, 2026, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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India’s palm oil imports jumped 11 per cent in February to reach a six-month high, as refiners increased purchases due to attractive price discounts compared with other edible oils.
According to industry data, palm oil imports rose to 847,689 tonnes in February, up from 766,384 tonnes in January, making it the highest monthly import level since August 2025. The surge was largely driven by the lower price of palm oil compared with competing oils such as soybean and sunflower oil.
India, the world’s largest importer of vegetable oils, relies heavily on overseas supplies to meet its domestic demand. Traders said refiners increased palm oil purchases as it was available at a significant discount compared with rival oils in the international market. At one point, palm oil was priced nearly $100 per tonne cheaper than soybean oil, prompting buyers to switch to the tropical oil.
However, the price gap between palm oil and soybean oil has narrowed in recent weeks to around $20 per tonne, which may slow down the pace of imports in the coming months, market participants said.
Meanwhile, imports of other edible oils showed mixed trends during the month. Soybean oil imports rose 7 per cent to about 299,046 tonnes, recovering from the previous month’s multi-month low. In contrast, sunflower oil imports declined sharply by nearly 45 per cent to around 145,308 tonnes, reflecting supply uncertainties and higher prices.
Despite the strong growth in palm oil purchases, India’s total vegetable oil imports fell about 2 per cent in February to 1.32 million tonnes, mainly due to the steep decline in sunflower oil shipments.
Industry experts note that India’s edible oil import patterns are highly sensitive to price movements in global markets. As palm oil continues to remain competitively priced compared with other oils, it is likely to retain a significant share in India’s edible oil imports in the near term.
However, geopolitical developments, supply concerns and freight costs could continue to influence the country’s edible oil procurement strategy in the coming months.
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