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India's palm oil imports surged to their highest level in over a year during October, while soyoil purchases climbed to an all-time record. According to average estimates from five industry dealers, lower price points encouraged refiners to aggressively ramp up buying activities to bolster inventories ahead of the major festive season.
Increased import volumes by India, the world's preeminent buyer of vegetable oils, are expected to limit stockpile growth in top producing nations Indonesia and Malaysia. Despite rising production levels in Southeast Asia, the robust Indian demand is likely to provide essential support to benchmark palm oil futures.
In October, India's palm oil imports rose by 6% month-on-month to reach 866,000 metric tons, marking the highest volume since August 2025. Simultaneously, soyoil imports grew by 6% to reach a historical peak of 653,000 tons. Sunflower oil shipments also saw a significant recovery, doubling from the previous month's four-year low to reach 223,000 tons.
Driven by higher shipments across all three primary categories, total edible oil imports rose 13% to 1.74 million tons, the highest figure recorded in more than two years. The Solvent Extractors' Association of India is expected to release official data for October imports by mid-November.
Demand for edible oils in India typically peaks during the September-to-November festive window as commercial and domestic kitchens increase the production of traditional sweets and snacks. This month, India celebrates the Diwali festival, a period of maximum consumption.
Rajesh Patel, managing partner at the trading firm GGN Research, noted that demand this year has been amplified by concerns over limited domestic supplies following El Niño-related damage to local oilseed crops. In response, India reduced the basic import duty on crude and refined edible oils in September to maintain affordable prices during the festive peak.
Sandeep Bajoria, chief executive of the Mumbai-based Sunvin Group, anticipates that palm oil imports will remain elevated through November, as the commodity continues to trade at a competitive discount relative to rival oils. India sources the majority of its palm oil from Indonesia and Malaysia, while soyoil and sunflower oil are primarily imported from Argentina, Brazil, Russia, and Ukraine.
Source: BusinessLine