India's sunflower oil imports seen up 30% on duty cut, industry official says

Business Recorder reported that India's sunflower oil imports could rise 30% to 3.5 million metric tons in the 2026/27 marketing year. The forecast came from Angshu Mallick, head of the Solvent Extractors' Association of India, and ties the jump to a duty reduction that has pushed prices down. Mallick said the lower levy is making the oil cheaper for buyers and should lift consumption.

Mallick expects this shift to reduce soyoil buying by 10.7%, leaving it at 5 million tons once the new year begins on November 1. Palm oil imports are seen holding near 8 million tons, although higher prices tied to El Niño supply worries could weigh on purchases. Overall vegetable oil imports are projected to stay broadly flat at 16.5 to 17 million tons, and could climb by 1 million tons if weaker rainfall hits the local rapeseed crop.

Rajasthan, a northwestern state producing nearly half of the country's rapeseed, recorded 22% less rainfall than normal during the monsoon from June to September. The crop is India's main winter-sown oilseed, with about 40% of each seed being oil, and it usually has a strong bearing on edible oil supply. Imports meet almost two-thirds of India's vegetable oil needs, and the main sources for palm, soy and sunflower oil are Malaysia, Indonesia, Argentina, Russia and Ukraine.