Sharp 20% Rise in Edible Oil Import Costs

23-Jul-2026 11:50 AM

Mumbai: In light of a sharp 20% increase in edible oil import costs during the first eight months of the current marketing season (November 2025 – October 2026), the Solvent Extractors' Association of India (SEA)—a leading industry body—has projected that the total import bill for the entire season will surge to a record high of ₹1.75 lakh crore.

According to the association, edible oil imports are steadily rising, and global market prices remain high. Furthermore, the Indian rupee remains significantly weak against the US dollar, further inflating import costs in rupee terms. The situation is deteriorating and cannot be overlooked.

While the total cost of edible oil imports stood at ₹1.61 lakh crore during the 2024-25 marketing season (November–October), the figure for the 2025-26 season is expected to climb to a peak of ₹1.75 lakh crore. During the first eight months of the current season (November 2025 to June 2026), the country imported over 104 lakh tonnes of edible oil; consequently, the associated cost rose by approximately ₹20,000 crore—from ₹99,000 crore to ₹1,19,000 crore.

The association's president notes that these figures represent more than just statistics; they highlight a massive outflow of precious foreign exchange, which is a matter of serious concern. If this trend were curbed and the funds utilized to boost domestic oilseed and oil production, reliance on imports could be significantly reduced.