India's Vegetable Oil Imports Drop 29% YoY in June 2026 on Reduced Palm Oil Discount

India's vegetable oil imports saw a 29% Year-on-Year (YoY) decrease in June 2026, influenced primarily by a decline in palm oil purchases, as per the PTI news report.  

This reduction in imports was noted as the lowest since the commencement of the current oil year, as per the Solvent Extractors' Association of India (SEA). 

Decline in Palm Oil Imports 

The drop was largely attributed to palm oil imports, which decreased 10.5% month-on-month to 4,87,000 tonnes.  

Crude palm oil imports fell from 5,46,456 tonnes in May 2026 to 4,88,863 tonnes in June 2026. The narrowing discount of palm oil compared to other oils led to this reduction. 

Changes in Soybean and Sunflower Oil Imports 

Soybean oil imports also reduced by 23% to 3,81,000 tonnes in June 2026 from 4,94,000 tonnes in May 2026.  

Conversely, sunflower oil imports increased from 1,95,726 tonnes in May 2026 to 2,42,870 tonnes in June 2026. There was no refined cooking oils imported for the second consecutive month. 

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Cumulative Oil Import Trends 

Despite the June decline, total imports for the oil year (November 2025 to June 2026) were 1,05,70,000 tonnes, showing an increase from 99,55,000 tonnes in the previous year.  

Total vegetable oil stocks stood at 20,09,000 tonnes as of July 1, 2026, compared to 22,16,000 tonnes a year earlier. 

Palm Oil Import Sources and Other Details 

India primarily imports palm oil from Indonesia and Malaysia, and soybean oil from Argentina and Brazil. Refined oils, predominantly from Nepal, were estimated at 32,000 tonnes in June 2026 due to duty exemptions under the South Asian Free Trade Area pact. 

Conclusion 

India's vegetable oil imports in June 2026 fell to 11,46,000 tonnes from 16,16,000 tonnes in June 2025, despite an overall annual increase. The reduction primarily stemmed from a decrease in palm oil imports, influenced by competitive pricing with reduced discounts. Soybean oil imports also declined, while sunflower oil saw an increase. 

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