India Steps Up Vegetable Oil Imports As Stocks Dwindle

According to the Directorate General of Commercial Intelligence and Statistics (DGCI), India's vegetable oil stocks fell to 1.7 million tonnes by the end of October 2025, down 0.7 million tonnes from the same period last year. According to Germany's Oil World, this situation is set to pave the way for higher oil imports between November 2025 and January 2026.

Estimates from the Solvent Extractors' Association of India (SEA) show that imports of the five major vegetable oils fell to 1.35 million tonnes in October 2025. This represents a 9% decline compared with October 2024, and a drop from the 1.67 million tonnes recorded in September 2025.

Here is a breakdown of the key oil figures:

• Palm oil: Imports fell to 595,000 tonnes (compared with 835,000 tonnes in September, and 867,000 tonnes in October 2024).
• Soybean oil: Total shipments reached 465,000 tonnes (compared with 550,000 tonnes in September, and 397,000 tonnes in October 2024), including 25,000 tonnes sourced from China. This marks the first purchase of soybean oil from China this year, following a 10-month gap with no such shipments during 2024.
• Sunflower oil: Imports totalled 261,000 tonnes (compared with 275,000 tonnes in September, and 195,000 tonnes in October 2024).
• Rapeseed oil: 10,000 tonnes were imported from Russia during October.

Performance for January to October 2025

India's total vegetable oil imports for this period are estimated at around 13.55 million tonnes, slightly below the 2024 figure of 13.89 million tonnes.

• Palm oil: Imports from Indonesia and Malaysia fell by 1.2 million tonnes due to higher prices. As a result, total palm oil imports reached 6.47 million tonnes, compared with 7.48 million tonnes for the same period in 2024.
• Soybean oil: Imports rose to 4.70 million tonnes, with Argentina (2.1 million tonnes) and Brazil (907,000 tonnes) topping the list of suppliers.
• Sunflower oil: Imports totalled 2.38 million tonnes (compared with 3.13 million tonnes in 2024), of which 1.11 million tonnes came from Russia (compared with 1.59 million tonnes in 2024).

Outlook

Analysts expect that, amid dwindling stocks and shifting import dynamics, India will step up its vegetable oil purchases in the coming months to ensure stability in the domestic market.

India previously imported 1.39 million tonnes of soybean oil between April and June 2025, up 40% on the same period the previous year. Indian importers continue to diversify their supply markets, with price levels remaining a key factor in this process.

Source: Al Mal Forum