India's largest vegetable oil importer, the Solvent Extractors' Association of India (SEA), has reported a significant decrease in palm oil imports in September 2024, by over 33%, leading to increased inventories in key producing countries, Indonesia, and Malaysia. This has resulted in pressure on benchmark futures due to higher inventories in India and rising Malaysian palm oil futures prices. Additionally, there has been a decrease in soybean and sunflower oil imports, contributing to a total vegetable oil import drop of over 30%. Despite this, improved demand for edible oils in India during the festive season suggests that palm oil imports may surpass 700,000 tonnes by October 2024. India is implementing a national mission to increase edible oil production and reduce dependence on imports by expanding oilseed cultivation areas and improving productivity. The goal is to reduce palm oil imports from the current 56% of total edible oil imports to about 28% by 2027.