India’s edible oil imports fell 8% year-on-year to 8.85 lakh tonnes in February 2025, down from 9.58 lakh tonnes in the same month last year, according to data from the Solvent Extractors' Association of India (SEA).
Total vegetable oil imports (including edible and non-edible oils) also declined 7% to 8.99 lakh tonnes, compared to 9.65 lakh tonnes in February 2024. This included 8.85 lakh tonnes of edible oils and 14,004 tonnes of non-edible oils, according to news agency PTI.
SEA noted that this was the lowest monthly import volume since May 2020, when imports had dropped to 7.20 lakh tonnes due to the COVID-19 pandemic.
However, for the first four months of the 2024-25 oil year (November 2024–February 2025), total vegetable oil imports rose 4% to 48.07 lakh tonnes, up from 46.38 lakh tonnes in the same period last year.
The recent decline in imports has been cushioned by high stock levels accumulated in India up to November 2024. However, with stocks now below 2 million tonnes, SEA expects a rise in purchases, particularly of palm oil.
Crude palm oil prices have seen a marginal increase in recent weeks relative to Indian landing costs, but weak price competitiveness in global markets could limit further imports in the near term.
The overall growth in vegetable oil consumption is expected to slow down in 2024-25, as a higher price premium on palm oil has reduced its imports and consumption. This has led to a sharp increase in demand for soybean oil and sunflower oil, SEA added.
Stay informed with the latest business news, updates on bank holidays and public holidays.
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Start a Conversation
Post comment