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India significantly reshaped its vegetable oil purchasing in February 2026: sunflower oil imports plunged 45.3% to 146,000 tonnes, while palm oil purchases reached their highest level since August 2025, according to Reuters.
Palm oil imports climbed to a six-month high of 844,000 tonnes, up 10.1% from January. The increase was driven by a record discount against competing oils, together with seasonal warmth, since tropical oils solidify in cold weather.
Soybean oil supplies rose 8.7% to 303,000 tonnes, recovering the decline recorded the previous month.
The report noted that palm oil purchases are expected to rise further in March given the continued appeal of its pricing. Stronger demand from the world's largest importer would draw down stocks in Indonesia and Malaysia, supporting palm oil and soybean oil futures on global exchanges.
India's total oil imports in February came to 1.29 million tonnes, a slight decline of 1.4% attributable to higher sunflower oil prices. Ukraine and Russia are the principal suppliers of sunflower oil to India.
According to OleoScope data, sunflower oil priced FOB Black Sea for March delivery stood at around $1,327.50 per tonne on 3 March 2026, up $17.50 per tonne from the previous price of $1,310.00 per tonne recorded on 2 March 2026. This is the highest level the price has reached.