India's Soyabean Oil Imports Surge Amid Global Market Fluctuations

India's import of crude soyabean oil more than doubled in the first five months of the 2024-25 marketing year, totaling over 19 lakh tonnes. This surge largely came from Argentina, while overall edible oil imports declined. The shift is attributed to soyabean oil's lower market prices compared to palm oil.

India's import of crude soyabean oil surged over 100% to 19.11 lakh tonnes in the first five months of the 2024-25 oil marketing year, announced the Solvent Extractors' Association of India (SEA).

Between November 2024 and March 2025, imports primarily came from Argentina, Brazil, and Russia. Argentina's exports to India jumped nearly threefold, while Brazil's shipments saw a slight decline. Despite this increase, the nation's overall edible oil imports decreased slightly due to reduced palm oil imports.

SEA Executive Director B V Mehta attributed the rise in soyabean oil imports to its lower cost relative to palm oil, which saw a price hike due to its diversion for biodiesel production. The economic choice for sectors like HoReCA and excess global soyabean production has also impacted market dynamics.

(With inputs from agencies.)