Vegetable Oil Imports (Nov 2024 - Jan 2025)

12-Feb-2025 01:09 PM

Vegetable Oil Imports (Nov 2024 - Jan 2025)  
★ Palm Oil Imports Decline Despite 6% Overall Growth  
★ According to the Solvent Extractors’ Association of India (SEA), India’s vegetable oil imports in the first quarter of the 2024-25 oil year increased by 6% to 3.91 million tons. However, total imports in January 2025 fell by 13% compared to the previous year.  
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Increase in Soybean and Sunflower Oil Imports  
- Soybean oil imports surged from 491,000 tons to 1.27 million tons.  
- Sunflower oil imports also saw significant growth.  
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Palm Oil Imports at a 13-Year Low  
- In January 2025, only 275,000 tons of palm oil were imported, compared to 780,000 tons last year.  
- Malaysia’s palm oil supply declined, and competitive soybean oil prices led to a drop in palm oil’s market share.  
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Stock Levels Declining  
- As of February 1, 2025, total stock stood at 2.18 million tons, down by 325,000 tons from 2.50 million tons in January.  
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Cheap Oil Imports from Nepal Hurting Indian Market  
- Between October 2024 and January 2025, Nepal imported 200,000 tons of edible oil but exported 110,000 tons to India, impacting Indian refiners and farmers.  
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Conclusion  
★ India's soybean and sunflower oil market share is rising, while palm oil imports are falling. This shift is primarily due to global price fluctuations and the availability of cheaper alternatives.