Dealers project that India's edible oil imports for June will fall to 1.1 million tonnes—a 16.6% month-on-month decline—driven by a broad-based drop in imports across the three major vegetable oil categories.

As a major global importer of edible oils, India saw its June imports slide 16.6% to 1.1 million tonnes; the weakening demand for soybean oil—a key import category—exerts downward pressure on spot prices. The benchmark soybean oil futures contract (2609) closed at 8,406 RMB/tonne on July 3, 2026, down 19 RMB/tonne from the previous trading day, and bearish demand-side news may further suppress futures prices.

Palm oil is one of the three primary vegetable oils imported by India. With the overall decline in edible oil imports, palm oil import volumes have also retreated; this weakening demand-side support acts as a bearish factor for palm oil spot prices.

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