India's Soyabean Oil Imports Surge Amid Decline in Palm Oil Shipments

India's import of crude soyabean oil more than doubled in the first five months of the 2024-25 oil marketing year, reaching 19.11 lakh tonnes. This sharp increase was largely sourced from Argentina, Brazil, and Russia. Meanwhile, overall edible oil imports slightly declined due to drops in palm oil shipments.

In a notable shift, India's imports of crude soyabean oil have surged more than twofold during the initial five months of the current oil marketing year, as detailed by the Solvent Extractors' Association of India (SEA).

The SEA's data reveals that between November 2024 and March 2025, India imported 19.11 lakh tonnes of crude soyabean degummed oil, up from 8.83 lakh tonnes in the same period during the 2023-24 marketing year.

This rise in soyabean oil imports from Argentina, Brazil, and Russia was in stark contrast to the overall slight decline in India's total edible oil imports, which was mainly attributed to decreased palm oil imports.

(With inputs from agencies.)