The Solvent Extractors’ Association (SEA) said that October saw a 60% month-over-month increase in India’s palm oil imports, reaching 845,682 metric tonnes, driven by festive demand and refilled supplies.
This increase may put a strain on Malaysian and Indonesian palm oil supplies worldwide. Imports of sunflower oil increased 56.5%, while imports of soy oil decreased 11%.
Because of increased local production and decreased demand due to rising prices, total vegetable oil imports for the 2023–24 year decreased by 3% to 16.2 million tonnes (EPA: TTEF).
Due to an expected record domestic oilseeds crop, the SEA anticipates a possible 1-million-ton reduction in edible oil imports in 2024–2025.
