India's Edible Oil Imports Decline

India's edible oil imports experienced an 8% decrease year-on-year, totaling 8.85 lakh tonnes in February 2025, down from 9.58 lakh tonnes in the same month last year, as reported by the Solvent Extractors' Association of India (SEA).

Vegetable Oil Imports Also See a Decrease

Total vegetable oil imports, including both edible and non-edible oils, also saw a 7% decline to 8.99 lakh tonnes, compared to 9.65 lakh tonnes in February 2024. This figure includes 8.85 lakh tonnes of edible oils and 14,004 tonnes of non-edible oils.

Lowest Monthly Import Volume Since May 2020

SEA highlighted that this marks the lowest monthly import volume since May 2020, when imports had plummeted to 7.20 lakh tonnes due to the COVID-19 pandemic.

Year-on-Year Growth Despite Monthly Decline

Despite the monthly decline, the first four months of the 2024-25 oil year (November 2024–February 2025) saw a 4% increase in total vegetable oil imports, rising to 48.07 lakh tonnes from 46.38 lakh tonnes in the same period last year.

Future Expectations

With stocks now below 2 million tonnes, SEA anticipates a rise in purchases, particularly of palm oil, despite a marginal increase in crude palm oil prices relative to Indian landing costs. The overall growth in vegetable oil consumption is expected to slow down in 2024-25, with a higher price premium on palm oil reducing its imports and consumption, leading to increased demand for soybean oil and sunflower oil.