India reduced vegetable oil imports by 11% in April, increasing pressure on quotes

According to dealers’ estimates, in April, India reduced imports of edible oils by 11% compared to March to 865,000 tons, primarily expensive palm oil, although it increased imports of much cheaper soybean oil.
Thus, palm oil imports decreased by 24% to 322 thousand tons, which is half the average of the previous marketing season, which was 750 thousand tons per month. Importers expect a decrease in palm oil prices, which increases the pressure on soybean and sunflower oil quotations.
Sunflower oil imports fell 6% to a 7-month low of 180,000 tonnes, while soybean oil imports rose 2% to 363,000 tonnes.
The price of crude palm oil (CPO) for delivery to India in May is $1,050/t C&F (including cost, insurance and freight), crude soybean oil is $1,100/t, and sunflower oil is $1,200/t.
July palm oil futures on the Bursa exchange in Malaysia fell 3.6% to 3,827 ringgit/t or $912/t in the week amid falling oil prices, but were supported by a strengthening ringgit.
July soybean oil futures in Chicago fell 3.7% to $1,073/tonne in a week (+7% in a month).
According to Oleoscope, the price for May deliveries of soybean oil on FOB in Brazil is $1,065.65/t, and on FOB in the EU – $1,157.63/t, which is $65.31/t less than the price level on 04/29/25. At the same time, the price for May deliveries of Russian sunflower oil decreased by $30/t to $1,090/t FOB.
In Ukraine, export prices for sunflower oil in Black Sea ports fell by $10/t to $1,020-1,025/t in a week.
In recent months, traders have been buying the cheapest soybean oil, which is driving down palm oil prices. Therefore, the market will soon level out, and palm oil will be trading at a 10% discount to soybean oil and 20% to sunflower oil due to its significantly lower quality.
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