India in July increased the import of vegetable oils by 1.5%, primarily soybean oil, while palm oil supplies decreased, which is increasing pressure on prices.

According to Reuters, in July India increased its import of edible oils by 1.5% compared to June to the highest level since November 2024 – 1.53 million tons, with the largest increase in soybean oil imports by 38% to a 3-year maximum of 495 thousand tons. At the same time, imports of palm oil decreased by 10% to 858 thousand tons, and sunflower oil by 7% to 201 thousand tons. Palm oil supplies in July were reduced due to the termination of import contracts following a rise in prices, while soybean oil supplies reached a 3-year maximum due to low prices and the delivery of delayed shipments from June in port queues. The reduction in palm oil supplies to India, the world's largest importer of vegetable oils, may lead to a buildup of stocks in the main producers – Indonesia and Malaysia, which will increase pressure on the base futures for Malaysian palm oil. September futures for palm oil on the Malaysian exchange fell by 1.4% to $988/ton yesterday, although in June, while India ...