Trade data shows that the import of vegetable oils, which include both edible and non-edible oils, increased by 18% in June to 15.5 lakh tonnes due to a rise in the imports of crude palm oil and crude sunflower oil. 

India imports soybean oil from Brazil and Argentina and palm oil from Malaysia and Indonesia. 

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India’s Vegetable Oil Imports 

According to data from the Solvent Extractors' Association of India (SEA), imports of vegetable oils in June 2024 totaled 15,50,659 tonnes, up from 13,14,476 tonnes in the year ago period. 

Imports of edible oil rose to 15,27,481 tonnes in June of this year from 13,11,576 tonnes in the same month previous year. Nonetheless, during the reviewed period, non-edible oil imports increased from 2,300 tonnes to 23,178 tonnes. 

Vegetable oil imports decreased by 2% to 1,02,29,106 tonnes in the first eight months of the 2023–24 oil year, which concluded in October, as opposed to 1,04,83,120 tonnes in the same period the previous year. 

According to SEA data, refined oil imports fell by 2% to 13,81,818 tonnes between November 2023 and June 2024 of the 2023–2024 oil year, compared to 14,03,581 tonnes during the same period the year before.

Crude edible oil imports decreased by 3% to 87,13,347 tonnes from 89,63,296 tonnes. Crude oil and refined oil (RBD Palmolein) imports remained constant. 

The amount of palm oil imported between November 2023 and June 2024 fell from 6031,529 tonnes to 57,63,367 tonnes during the same period last year. Additionally, imports of soft oil decreased from 43,35,349 tonnes to 43,31,799 tonnes. 

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