India’s edible oil imports took a big drop in February, hitting a four-year low. The Solvent Extractors’ Association of India warned that fewer soyoil and sunflower oil shipments made stocks fall to a three-year low. This situation has increased calls for quick action.
India’s edible oil imports reached a four-year low, depleting stocks.
The data shows that while palm oil imports went up by 35.7% to 373,549 tons, soyoil imports fell by 36% to 283,737 tons. On the other hand, sunflower oil cut its imports by 20.8% to 228,275 tons in February. Overall, vegetable oil imports were 12% less last month. These drops significantly reduced the total stock levels.
Soyoil, sunflower oil imports dropped sharply, causing three-year low inventories.
In the past marketing year that ended in October 2024, India usually imported more than 750,000 tons of palm oil every month. The country gets edible oils from places like Indonesia, Malaysia, Thailand, Argentina, Brazil, Russia, and Ukraine. Analysts predict a slight increase in imports as traders plan to rebuild stocks in March.
Conclusion
Recap of Key Points: India’s edible oil imports decreased significantly in February, hitting a four-year low and low stocks. Imports of soyoil and sunflower oil also saw sharp declines.
This decline raises concerns about supply shortages and highlights urgency for corrective actions. Import activity is expected to increase again soon.
