India’s sunflower oil imports halved in February amid rising prices

In February 2026, India dramatically changed its vegetable oil purchase structure: sunflower oil imports plummeted by 45.3% (to 146,000 tonnes), while palm oil purchases reached their highest level since August 2025, Reuters reports.

Palm oil imports rose to a six-month high of 844,000 tonnes (up 10.1% from January). This was driven by a record discount to competitors’ prices and seasonal warming (tropical oil solidifies in cold weather).

Soybean oil supplies increased by 8.7% to 303,000 tonnes, reversing the previous month’s decline.

The publication notes that palm oil purchases are expected to rise further in March due to continued price attractiveness. Increased demand from the largest importer could reduce inventories in Indonesia and Malaysia, supporting palm and soybean oil futures on global exchanges.

India’s total oil import volume in February amounted to 1.29 million tonnes, a slight decrease (1.4%) due to a decline in sunflower oil prices. Ukraine and Russia are the main suppliers of sunflower oil to India.

According to OleoScope, the price of sunflower oil (FOB Black Sea) for March delivery on 3 March 2026 was $1,327.50 per tonne, $17.50 per tonne higher than the previous price of $1,310.00 per tonne on 2 March 2026. This is the highest level of this price.

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