Edible oil imports up 6.7%, soybean oil boosts growth

India's edible oil imports increased 6.7% y/y in May 2026 to 13.39 lakh tonnes, driven largely by a sharp rise in crude soybean oil shipments, according to data released by the Solvent Extractors' Association of India.

  The industry body said edible oil imports stood at 13,38,936 tonnes in May, compared with 12,54,883 tonnes in the same month last year. The increase was mainly supported by higher imports of crude soybean oil, which rose to 4,93,854 tonnes from 3,98,585 tonnes a year earlier. 

 Imports of crude soybean oil increased after the price premium of soybean oil over palm oil narrowed, making it more competitive in the domestic market.  The government also revised tariff values from June 1, increasing the tariff value of crude palm oil to $1,218 per tonne and refined palm oil to $1,222/tonne, while slightly lowering the tariff value for crude soybean oil. Imports of non-edible oils more than doubled to 26,202 tonnes in May 2026 from 12,040 tonnes a year ago. Total vegetable oil imports, including edible and non-edible oils, rose 8% to 13.65 lakh tonnes during the month compared with 12.67 lakh tonnes in May 2025. During the first seven months of the 2025-26 oil year (Nov-Oct), total vegetable oil imports increased 12% to 93.65 lakh tonnes from 83.39 lakh tonnes in the corresponding period of the previous year.

Edible oil imports during November 2025-May 2026 grew 13% to 92.17 lakh tonnes, while non-edible oil imports declined to 1,47,710 tonnes from 2,07,505 tonnes.

SEA highlighted that no imports of RBD Palmolein were recorded in May 2026. Cumulative imports of the refined palm oil product during November 2025-May 2026 plunged to 47,270 tonnes from 8,26,800 tonnes a year ago. 

—PTI