India’s soybean and palm oil imports to rise 20% on lower prices

India’s palm oil imports will rise by nearly 20% in the new marketing year, thanks to competitive prices helping the tropical oil regain market share, Sanjeev Asthana, president of the Edible Oils Association of India (SEA), said last week. “Palm oil prices have become competitive with other oils after the recent decline, and this will stimulate import demand,” Asthana told Reuters in an interview. Increased purchases by the world’s largest buyer will likely lead to inventory drawdowns in key producing countries such as Indonesia and Malaysia. The country’s palm oil imports in 2025/26 could rise to 9.3 million tonnes from last year’s 7.58 million tonnes, the lowest in five years and 15.9% lower than the previous season, as the tropical oil traded at a premium to soybean for much of the period. However, palm oil is currently selling at a discount of around $100 per tonne compared to soybean oil and over $200 per tonne compared to sunflower oil, prompting processors to book supplies ...