India's vegetable oil imports slide 29% on year in Jun-26

India's vegetable oil imports (edible and non-edible) declined by 29 percent year-on-year to 11.47 lakh tonnes in June 2026, compared with 16.16 lakh tonnes imported in the same month last year. The June imports comprised 11.11 lakh tonnes of edible oils and 35,427 tonnes of non-edible oils. On a month-on-month basis, edible oil imports fell to 11.11 lakh tonnes in June from 13.39 lakh tonnes in May 2026. This was primarily driven by a collapse in palm oil demand to 487,000 tons, a 10.5% decrease. Soybean oil imports also experienced a significant drop, falling by 23% to 381,000 tons from 494,000 tons. This decline was caused by the vanishing price discount of palm oil against soft oils (like soy), which dropped to under $50 a tonne. Despite the decline in June, cumulative imports during the first eight months of the 2025-26 oil year (November 2025 to June 2026) remained higher than the corresponding period of the previous year.

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