After mustard oil, India has now started importing palm oil from South American countries.
26-Aug-2025 12:59 PM
After mustard oil, India has now started importing palm oil from South American countries.
★ India has purchased 6,000 tonnes of rapeseed oil from the UAE for the first time in five years, with the consignment expected to arrive at Kandla Port by the end of August.
★ In July, the spot price of rapeseed oil reached 1,914.02 USD/tonne — the highest level since February 2022 — up 34% compared to last year.
★ For the first time, India has purchased palm oil from Colombia and Guatemala on an FOB basis at a discount of \$10/tonne compared to Indonesian and Malaysian offers. Shipping costs from South America are around \$90/tonne, compared to \$45/tonne from Southeast Asia, with arrivals expected at Kandla Port in October.
Current prices in India (CIF basis):
CPO: 1,165 USD/tonne (October delivery)
Sunflower oil: 1,230–1,240 USD/tonne
★ In the 2023/24 marketing year, India imported a total of 9 million tonnes of palm oil. Increased supplies to India could put pressure on global palm oil futures.
★ With the festive season driving higher demand for edible oils, Indian importers are securing deals at a faster pace.