India increased sunflower oil imports by 14% in July

According to SEA estimates, in July, India’s vegetable oil imports increased by 8% year-on-year to 1.89 million tons, which even led to congestion at ports. Stocks of vegetable oil at the country’s ports increased to the highest level in the last 8 months and stand at 1 million tons at the end of July.

In particular, palm oil imports increased to 1.12 million tons (1.02 million tons in July 2023), of which 630,000 tons came from Indonesia, 300,000 tons from Malaysia, and 120,000 tons from Thailand.

Imports of sunflower oil increased by 14% to 367 thousand tons, with the largest volume supplied by Russia – 190 thousand tons, Argentina – 86 thousand tons and Ukraine – 43 thousand tons.

At the same time, imports of soybean oil decreased to 392 thousand tons vs. purchased in July 2023. 401 thousand tons, including from Argentina – 302 thousand tons, from Brazil – 87 thousand tons.

Recall, India extended the reduced duty on imports of all types of vegetable oils until March 2025.

Tags: India, palm oil, imports, sunflower oil, soybean oil