Amid higher palm and soybean oil prices, India increased sunflower oil imports in June

India’s edible oil imports fell by 30% year-on-year in June 2026 to 1.11 mln tons, compared with 1.60 mln tons a year earlier. According to the Solvent Extractors’ Association of India (SEA), the decline was mainly driven by a sharp drop in palm and soybean oil imports as global prices increased.

Palm oil imports declined to 487 thsd tons in June from 546 thsd tons in May and 952 thsd tons in June 2025. Soybean oil imports also fell to 380 thsd tons from 493 thsd tons a month earlier. In contrast, sunflower oil imports increased to 240 thsd tons, up from 190 thsd tons in May.

According to SEA Executive Director B.V. Mehta, the decline in purchases was caused by the narrowing price advantage of palm oil over soybean oil. The discount for palm oil has fallen to less than $50/t, making it less attractive for Indian buyers.

The market is also being affected by expanding biodiesel mandates in Indonesia, Malaysia, and the United States. As more vegetable oils are diverted from the food market to biofuel production, global prices have remained elevated. Over the past year, palm oil prices have increased by 17-18%, soybean oil by 14%, and sunflower oil by 19%.

Despite weaker imports in June, India imported 10.39 mln tons of edible oils during the first eight months of the 2025/26 marketing year (November-June), up 7% from the same period a year earlier. Indonesia, Malaysia, Argentina, Russia, and Ukraine remained the country’s main edible oil suppliers.

Tags: India, palm oil, imports, edible oils, sunflower oil, soybean oil, prices