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The Solvent Extractors' Association of India (SEA) has said that India's vegetable oil imports declined 29% year-on-year to 11.46 lakh tonnes in June, compared with 16.16 lakh tonnes imported in June 2025, as palm oil was available at a smaller discount to other edible oils such as soybean oil. The June import volume was the lowest since the beginning of the current oil year, which runs from November to October. India is the world's largest importer of edible oils. Despite the decline in June, cumulative imports during the first eight months of the 2025-26 oil year (November 2025 to June 2026) increased to 105.7 lakh tonnes from 99.55 lakh tonnes in the corresponding period of the previous year.

The decline in June was driven mainly by a 10.5% month-on-month fall in palm oil imports to 487,000 tonnes. Crude palm oil imports declined to 488,863 tonnes from 546,456 tonnes in May. Soybean oil imports fell 23% to 381,000 tonnes in June from 494,000 tonnes in May, as palm oil's discount narrowed to less than $50 per tonne. However, sunflower oil imports rose to 242,870 tonnes in June from 195,726 tonnes in May. Imports of refined cooking oils remained nil for the second consecutive month. Total vegetable oil stocks stood at 20.09 lakh tonnes as of July 1, 2026, down from 22.16 lakh tonnes a year earlier, reflecting lower imports during June.

The SEA said Nepal continued to ship significant volumes of refined oils to India, which levies no import duty on Nepalese oil under the South Asian Free Trade Area (SAFTA) agreement. Nepal exported about 338,854 tonnes of refined oils to India between November 2025 and April 2026, mainly refined soybean oil, along with sunflower oil, RBD palmolein and rapeseed oil. The SEA said exports were estimated at about 54,000 tonnes in May and 32,000 tonnes in June. India primarily imports palm oil from Indonesia and Malaysia, and soybean oil from Argentina and Brazil.