India Sees Surge in Edible Oil Imports Amid Rising Global Prices

India's edible oil imports rose to 16 million tonnes in 2024-25, costing Rs 1.61 lakh crore due to increased global prices. Palm oil imports fell, but soyabean oil hit a new record. The trend reflects a 15-fold rise in import costs over two decades.

India's reliance on edible oil imports surged in the 2024-25 marketing year, hitting 16 million tonnes and costing Rs 1.61 lakh crore, as reported by industry body SEA.

The increase in costs, a 22% rise compared to the previous year, aligns with heightened global prices, significantly impacting domestic expenditure.

Despite a decrease in palm oil imports, soyabean oil set a new import record, indicating changing trends in India's edible oil market. The country has seen a dramatic increase in import costs and volume since the 1990s.

(With inputs from agencies.)