Sunflower oil imports to India decreased by 23% in January

269,000 tonnes in January 2026. The main reason for the decline was a shift in demand to cheaper palm oil, with shipments reaching a four-month peak of 766,000 tonnes. At the same time, soybean oil imports also plummeted 45% to a 19-month low (280,000 tonnes). This combined decline led to a 3.5% decline in total vegetable oil imports into India to 1.32 million tonnes, despite record palm oil purchases. Attractive prices for tropical palm oil played a key role, prompting Indian importers to revise their purchasing strategies in favor of this product. However, a sharp increase in Indian palm oil imports is expected to support prices on Malaysian and Indonesian exchanges and help reduce inventories in these countries. At the same time, reduced demand from India could put additional pressure on soybean oil futures on US exchanges. According to OleoScope, the CIF Mumbai India sunflower oil price for February delivery on 02/02/2026 was $1,407.93 per tonne, up $4.97 per tonne from the ...