India soybean oil imports seen at record 6.2 lakh tonnes in August: SEA

India's edible oil exports during April-May 2026 stood at 41,438 tonnes, valued at ₹720.85 crore, compared with 49,100 tonnes valued at ₹707.09 crore a year earlier. Volumes declined roughly 16%, while export value increased nearly 2%, suggesting better value realisation. Groundnut oil led the export basket, followed by soybean oil and sunflower oil.

Oilseed exports during the same period reached 1.52 lakh tonnes valued at ₹1,877.50 crore, with groundnut and sesame leading. Oilseed imports surged to 4.31 lakh tonnes worth ₹2,284.93 crore, with soybean seed alone accounting for 4.13 lakh tonnes. Asthana said the sharp rise in soybean seed imports highlights the need to improve domestic productivity and ensure adequate availability of quality seed. Higher soybean imports also reflect lower stock levels in the country.

Asthana pointed to the Reserve Bank of India's observations on the diversion of edible oils from food to fuel as an additional layer to the outlook. The global shift toward biofuels, particularly the increasing use of palm oil and other vegetable oils for biodiesel, has the potential to tighten export availability and keep international edible oil prices structurally firm. For India, one of the world's largest edible oil importers, that has direct implications for the import bill, domestic prices and food inflation, he said.

Asthana said the bigger question remains whether India can convert its oilseed acreage into a stronger domestic balance of oilseeds and edible oils in 2026-27.