India’s soybean oil imports jumped 21% on the month to a record 601,000 tons in August as refiners built inventories ahead of the peak festive season, traders said on Wednesday.
Total edible oil inflows rose 4% to 1.54 million tons, the highest since September 2025, driven by gains in palm and soybean oil despite a 38% drop in sunflower oil shipments to a six-month low of 157,000 tons. Palm oil imports climbed 7% to 780,000 tons, while sunflower oil supply was constrained by disruptions in the Black Sea region amid the ongoing conflict between Russia and Ukraine.
Imports from Nepal, which are not subject to import taxes, contributed an additional 100,000 tons, including 90,000 tons of soybean oil, traders said. The Solvent Extractors’ Association of India is expected to release official August import data by mid-September.
Soybean oil purchases accelerated as the commodity became more competitively priced than palm oil, while sunflower oil imports fell due to logistical challenges in the Black Sea. India typically sources palm oil from Indonesia and Malaysia, soybean oil from Argentina and Brazil, and sunflower oil from Russia and Ukraine.
Rajesh Patel, managing partner at GGN Research, noted that Indian refiners have been accelerating purchases to meet pre-festival demand. Sandeep Bajoria, executive director of Sunvin Group, said soybean and palm oil imports are likely to remain elevated in September as well.
The surge in soybean oil imports follows a broader trend of strategic stockpiling by Indian refiners, who have been prioritizing immediate deliveries over forward contracts amid volatile pricing and supply chain risks.
