India's April palm oil imports fall 26% to four-month low on weak demand

MUMBAI: India’s palm oil imports slumped 26% in April to the lowest in four months as weak institutional demand and a price rally that narrowed palm oil’s discount to competing oils discouraged refiners from boosting purchases, a leading trade body said.

Lower imports by the world’s biggest importer of vegetable oils could increase stocks in top producers Indonesia and Malaysia and weigh on benchmark Malaysian palm oil futures.

India’s palm oil imports in April fell to 513,403 metric tons, the lowest since December 2025, down from 689,462 tons in March, the Mumbai-based Solvent Extractors’ Association of India (SEA) said in a statement on Wednesday.

Imports of soyoil rose 25% to 360,350 tons, the highest in four months, and sunflower oil imports were up about 121% to 434,240 tons, the highest in 22 months.

Total vegetable oil imports rose 10% to 1.31 million tons as sunflower oil and soyoil purchases jumped, the statement added.

India sources most of its palm oil from Indonesia and Malaysia, while soyoil and sunflower oil are imported mainly from Argentina, Brazil, Russia and Ukraine.

Refiners are waiting for palm oil prices to correct before making large purchases, as refining margins are currently negative, said a Mumbai-based dealer with a global trading house.

The country has been facing cooking gas shortages, especially among eateries and restaurants, effectively reducing their palm oil consumption, the dealer said.

These restaurants serve popular dishes such as samosas and chole bhature, which are typically deep-fried.

India, the world’s second-largest cooking gas importer, is grappling with its worst gas crisis in decades, as the government cuts supplies to industry and raises commercial cylinder prices to shield households from shortages.