Why India's palm oil imports are down by 19%
What's the story
India's palm oil imports fell by nearly 19% month-on-month in March, hitting a three-month low of 689,462 tons. The decline is largely attributed to rising global prices that have prompted refiners to delay their purchases. The data was released by the Solvent Extractors' Association of India (SEA), a Mumbai-based trade body.
Market implications
Impact on local markets and future imports
The drop in palm oil imports could lead to a depletion of stocks and support local oilseed prices. However, it may also force India, the world's largest edible oil importer, to increase its overseas buying in the coming months. This is necessary to replenish stocks amid the ongoing price rally in tropical oils such as palm oil, which are closely linked with energy markets.
Statistics
Decline in palm oil imports since December
The SEA's data also shows that India's palm oil imports in March 2026 were the lowest since December 2025. The figure was down from February's import of 847,689 tons. Along with this, soyoil imports also fell by 4% to reach a total of 287,220 tons. However, sunflower oil imports increased by about 35%, reaching a total of 196,486 tons during the same period.
Import trends
Overall edible oil imports drop
India's overall edible oil imports fell by over 9% from February to March, totaling 1.17 million tons, the lowest since April 2025. The decline was mainly due to reduced purchases of palm oil and soyoil during this period. Most of India's palm oil is sourced from Indonesia and Malaysia, while soyoil and sunflower oil mainly come from Argentina, Brazil, Russia, and Ukraine.