India edible oil imports drop 29% in June as palm discounts narrow
Total imports fell to 1.11 MT in June 2026 from 1.59 MT a year earlier, with palm oil nearly halving to 0.48 MT. SEA cites narrower discounts and biofuel mandates lifting global prices. Full-year imports may still top 16 MT amid weak monsoon-hit domestic oilseed output; India buys 57% of its cooking oil.
What happened
Solvent Extractors' Association of India · India's edible oil imports fell 29% in June as narrower palm oil discounts curbed demand. SEA flags biofuel mandates
Key facts
- 29% import drop June
- palm oil 0.48 MT June 2026
- 0.54 MT May 2026
- 0.95 MT June 2025
- total imports 1.11 MT June 2026 vs 1.59 MT June 2025
- soybean oil 0.38 MT
- sunflower oil 0.24 MT
- stocks 2 MT July 1
- 16.01 MT 2024-25
- $18.3 billion
- India imports 57% of cooking oil
Why this matters
Weak monsoon-hit domestic oilseed output and persistent 57% import reliance signal opportunities in domestic crushing capacity, oilseed sourcing, and biofuel-linked supply partnerships to buffer against volatile global palm pricing.
What to watch
- Monsoon progress and kharif oilseed sowing/acreage reports
- Indonesia/Malaysia CPO export levy and biodiesel blending changes
- Palm-soy oil price spread narrowing further or reopening
- India import duty or stock-limit policy announcements
- July-August monthly SEA import prints for rebound confirmation
- Refiners rebuild inventory ahead of festival season, front-loading July-August bookings
- Retail edible oil prices firm on higher landed cost and thin domestic mustard/soybean crop
- SEA lobbies for import duty adjustments to protect domestic crushers and cool consumer prices
- Traders widen sourcing to sunflower (Black Sea) and soy (South America) to hedge palm strength