India's Vegetable Oil Import Surge Amid Festive Demand

India experienced a significant increase in vegetable oil imports in November, driven by the high festive season demand. The country imported 1.63 million metric tons, a 10.4% rise from October. The imports of soyoil and sunflower oil saw substantial growth, while palm oil imports slightly declined.

India's vegetable oil imports have skyrocketed to a four-month high in November, with refiners ramping up acquisitions of soyoil and sunflower oil after a robust festival season, a major trade association announced on Thursday.

The Solvent Extractors' Association of India (SEA) reported that November's imports reached 1.63 million metric tons, marking a 10.4% increase from October. Celebrations of Dussehra and Diwali, known for high consumption of sweets and fried foods, fueled this demand.

November saw a 19.3% rise in soyoil imports to 407,648 tons and a 42.5% increase in sunflower oil imports to 340,660 tons, with palm oil imports slightly declining by 0.4% to 841,993 metric tons.