Edible Oil Prices Surge as Imports Become Costlier

27-Mar-2026 05:14 PM

Mumbai. Due to the Iran-Israel conflict, not only are imports of edible oils from abroad facing disruptions, but the process is also becoming significantly more expensive due to elevated shipping costs. Imports are proving to be even more costly as the rupee's exchange rate against the dollar has plummeted to a record low.

The Iran-Israel conflict in West Asia has now entered its fourth week, and there appear to be no signs of it abating in the near future.

Consequently, the situation is becoming increasingly critical for a country like India. India is the world's largest importer of edible oils, sourcing approximately 60 percent of its domestic requirements from abroad.

These imports typically comprise palm oil from Indonesia and Malaysia, soybean oil from Argentina and Brazil, and sunflower oil from Russia and Ukraine. While palm oil imports are proceeding normally, the procurement of soybean and sunflower oils is currently facing difficulties.

Over the past four weeks, the prices of various edible oils have witnessed an increase ranging from 6 to 14 percent. Specifically, between February 27 and March 25, the price of palm oil surged by 16 percent, while that of soybean oil jumped by 14 percent.