India increased vegetable oil imports by 34% in July

In July 2026, India increased vegetable oil imports by 34% compared to June to a 10-month high of 1.49 million tons, amid a decline in domestic stocks and the need to replenish them ahead of the traditional autumn holiday season, Reuters reports, citing market participants.

 

Imports of palm oil increased by 50% to a 5-month high of 733 thousand tons, soybean oil by 32% to a 7-month high of 501 thousand tons, and sunflower oil by 4% to 253 thousand tons.

 

Brokerage company Sunvin Group explains this increase in imports by the fact that after several months of sluggish purchases, processors began to actively replenish stocks ahead of the holiday season, which lasts in the country from August to November.

 

GGN Research analysts predict that oil import rates will remain high in the coming months, with soybean oil purchases exceeding 500,000 tons in August and September due to its favorable price. In addition, the reduction in domestic soybean and rapeseed processing is increasing the need for imported products.

 

India's increase in imports has been a positive signal for the world's largest exporters of vegetable oils, as it will help Indonesia and Malaysia reduce palm oil stocks, and Argentina increase soybean oil exports, which will also keep palm and soybean oil prices high.