India's edible oil imports hit 10-month high in July on festival demand

India's edible oil imports surged to their highest level in 10 months in July, driven by refiners' purchases of palm oil and soyoil to stockpile supplies ahead of the upcoming festival season, according to the Solvent Extractors' Association of India (SEA). The increased demand from the world's largest importer of vegetable oils could assist top producers like Indonesia, Malaysia, and Argentina in reducing their stockpiles and support palm oil and soyoil futures.

Palm oil imports jumped by nearly 50% in July, reaching 730,965 metric tons, the highest in five months, while soyoil imports rose by 31% to 498,881 tons, their peak in seven months. Sunflower oil imports also increased by about 4% to 251,639 tons. The total edible oil imports rose by 33.3% to 1.48 million tons, the highest since September 2025.

The figures do not include duty-free shipments arriving via land from neighboring Nepal. Refiners are boosting purchases in anticipation of higher demand as the festival season approaches, with India set to celebrate numerous festivals from August to November, typically seeing peak demand for edible oils during this period. Mumbai-based Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage, predicts that imports may remain strong in August, with palm oil shipments potentially exceeding 700,000 tons.

India primarily sources its palm oil from Indonesia and Malaysia, while soyoil and sunflower oil are mainly imported from Argentina, Brazil, Russia, and Ukraine.