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flag India's palm oil imports fell sharply in December, overtaken by cheaper soybean oil imports.

flag India's palm oil imports plummeted in December 2024, dropping 47% for crude palm oil and 25% for RBD palmolein, due to a surge in cheaper soybean oil imports from South America. flag Soybean oil imports more than doubled to 420,000 tonnes, driven by large price discounts. flag This shift reduced palm oil's market share to 42%, while refined oils like soybean and sunflower oil captured 58% of imports. flag Overall, total vegetable oil imports slightly declined to 1.23 million tonnes, reflecting a trend towards more competitively priced oils.

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