India's March palm oil imports fall to 3-month low as prices surge

India's palm oil imports fell nearly 19% in ​March to a three-month ​low as a rally in tropical oil prices, tracking energy ​markets, prompted refiners to curb purchases and wait for a correction, five dealers said.

Lower imports could deplete stocks and support local oilseed prices, but may force the world's ‌biggest edible ⁠oil importer ⁠to step up overseas buying in coming months to replenish stocks.

Palm oil imports fell ​to 689,000 metric tons in March, the lowest since December 2025, down from 847,689 tons ​in February, per dealer estimates.


Soyoil imports eased 3% month-on-month in March to 290,000 tons, while sunflower oil shipments jumped 36.3% to 198,000 tons.

India's overall edible ​oil imports fell nearly 9% from February to ⁠1.18 million ‌tons in March, the lowest since April 2025, as ​palm oil and ​soyoil purchases declined, estimates showed.

The figures exclude duty-free shipments ⁠arriving via land borders from Nepal, the dealers said.

India is ​estimated to have imported 60,000 tonnes of edible oils, ​mainly soyoil, from Nepal in March, said Rajesh Patel, managing partner at edible oil trader GGN Research at Rajkot, Gujarat.

The Solvent Extractors' Association of India is set to release its March import data by mid-April.

Refining margins for crude palm oil turned negative in March after overseas prices surged, ‌prompting Indian buyers to scale back imports, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and ​consultancy firm.

Malaysian ​palm oil futures jumped ⁠19.47% in March, marking their strongest monthly gain since April 2022, on expectations that a rally in energy prices, driven by the Middle East conflict, will ​boost biodiesel demand.

"Supplies are now coming in from the new-season rapeseed crop, which is also helping to curb imports in the short term," Bajoria said.

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.