India Cuts Edible Oil Imports; Prices May Ease Ahead
24-Mar-2026 04:24 PM
India Cuts Edible Oil Imports; Prices May Ease Ahead
★ Following the recent price surge driven by Middle East tensions, Indian refiners have reduced purchases of palm oil, soyoil, and sunflower oil.
★ Companies believe the rally is temporary and expect prices to decline once the conflict subsides.
★ India, which imports nearly two-thirds of its edible oil requirement, is likely to see imports fall to around 1.1 million tonnes in March, down from about 1.36 million tonnes last month. Palm oil imports are also expected to decline to around 680,000 tonnes.
★ The market is currently in a “wait-and-watch” mode, as stock levels remain comfortable due to strong imports in previous months. Additionally, the arrival of the new rapeseed (mustard) crop is supporting domestic supply.
★ Lower imports could put pressure on global prices, while supporting domestic markets and oilseed farmers.