Nine Indian Firms Ink Soybean Oil Import Deals with China

31-Jul-2025 08:01 PM

Mumbai. Nine major edible oil companies of India are reported to have signed deals to import soybean oil from China, which include Patanjali Foods, Adani Wilmar and some multinational companies - Cargill, Bunge, ADM and Louis Dramfus etc.

These firms have signed contracts to import soybean oil from two Chinese exporters for shipment between September and December 2025. At present, there is news of an agreement to import about 1.50 lakh tonnes of soybean oil, while if the offer price remains at a competitive level, then more import deals can be made in the future.

It is worth noting that China is the largest importer and fourth largest producer of soybean in the world. There is a surplus stock of soybean oil there, which is now being sold to other neighboring countries including India.

This contracted soybean oil from China will be exported by a government company Crosco and a private firm. Other Indian firms likely to import soybean oil from China include Emami Agrotech, Gemini Edibles & Fats and Gokul Agro Resources.

Import of soybean oil from China to India is an unusual event as it is not commonly imported from there. But it is understood that currently imports from China are cheaper by $15-20 per tonne than from Argentina and Brazil and the time taken is only two weeks whereas consignments of soybean oil from Latin American countries take about 45 days to reach Indian ports.

According to Solvent Extractors Association of India (SAI), the cost of import of degummed soybean oil at Mumbai port is $1205 per tonne including shipment cost and insurance. In comparison, import cost of RBD palmolein is $1070 per tonne and sunflower oil is $1230 per tonne.