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2025-11-03 20:28:57
[A Dramatic Shift in India's Edible Oil Import Structure: Palm Oil Plunges to a Five-Year Low, Soybean Oil Defies the Trend and Reaches a New High] ⑴ India's palm oil imports in October plummeted 27.6% month-on-month to 600,000 metric tons, marking a five-month low and pushing total imports for the 2024/25 marketing year to a five-year low of 7.56 million metric tons. ⑵ Soybean oil imports showed a polarized trend: October imports decreased by 17.1% month-on-month to 417,000 metric tons, but the total for the 2024/25 marketing year surged 61.6% to a record 5.56 million metric tons. ⑶ Sunflower oil imports in October declined by 6.4% month-on-month to 255,000 metric tons, and the total for the 2024/25 marketing year decreased by 17.7% to 2.88 million metric tons, a three-year low. (4) Total edible oil imports in October plummeted 20.7% month-on-month to 1.27 million metric tons, the lowest in five months, but the total for the 2024/25 marketing year is expected to increase slightly by 0.3% to 16 million metric tons. (5) The data reveals that India is significantly adjusting its edible oil import structure, with palm oil's share continuing to shrink and soybean oil achieving strong substitution due to its price advantage, reflecting a reshaping of global vegetable oil trade flows.
