India’s annual imports of palm oil to fall below the share of other competing oils for the first time

게시됨 2025년 2월 25일

Tridge 요약

India's reliance on palm oil as a portion of its annual edible oil imports is expected to decline for the first time, as its rising cost compared to other oils, such as soy and sunflower, has led processors to prefer cheaper alternatives. The country's palm oil imports might drop to 7.5 million tons for MY 2024/25, marking the lowest in five years. This shift could impact benchmark Malaysian palm oil prices and bolster U.S. soybean oil futures. Additionally, the total edible oil imports of India are projected to remain stable at approximately 16 million tons this year, with an increase in soybean and sunflower oil imports.

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원본 콘텐츠

Palm oil’s share of India’s annual edible oil imports will fall below that of other competing oils for the first time as its rising premium over soy and sunflower products pushes processors toward more affordable alternatives, Sanjeev Asthana, president of the Seed Oil Association of India (SEA), told Reuters in an interview. A drop in palm oil imports by India, the world’s biggest buyer of vegetable oils, could put pressure on benchmark Malaysian palm oil prices and support U.S. soybean oil futures. “Palm oil is becoming more expensive due to supply issues, so buyers are naturally switching to soybean and sunflower oil,” the industry union chief said. Recall, in January, India’s palm oil imports fell by 65% month-on-month to 275.2 thousand tons, the lowest in almost 14 years. The country’s palm oil imports for MY 2024/25 may fall to 7.5 million tons, the lowest in five years, said Asthana, who is also CEO of Patanjali Foods Ltd. According to SEA data, palm oil accounted for ...

출처: UkrAgroConsult