India is increasing its imports of soyoil due to disruptions to supplies from the Black Sea

India’s soybean oil imports could reach a record 620 thsd tons in August 2026. This is nearly 46% above the average monthly volume in the current season, as competitive prices and disruptions to sunflower oil shipments from the Black Sea region prompt Indian buyers to switch increasingly to soybean oil.

At the same time, India’s sunflower oil imports could fall by 28% from July to 180 thsd tons in August, the lowest level since February. Around 150 thsd tons of Black Sea sunflower oil scheduled for shipment in August-September have already been delayed due to shipping disruptions.

Soybean oil has also become more attractive due to changing price spreads. Its premium over palm oil has narrowed to around $50/t from more than $100/t in April. Meanwhile, sunflower oil for October-December delivery is trading at a premium of nearly $200/t, encouraging Indian importers to seek cheaper alternatives.

Strong soybean oil purchases are expected to continue in the coming months. Imports could again exceed 600 thsd tons in September, while India has already purchased around 1.4 mln tons of soybean oil for shipment between September and December.

Argentina and Brazil traditionally account for the bulk of India’s soybean oil imports, but strong demand is prompting buyers to diversify supply origins. Indian importers are now also sourcing soybean oil from China, Egypt, Thailand and Turkey for prompt shipments.

Tags: soybean oil, Black Sea region, India