Highlights:
The world's most popular vegetable oil is palm oil, a multipurpose oil made from the fruit of the palm tree. Also, India, the second-largest importer of palm oil worldwide, is largely dependent on imports to satisfy its rising demand.
Did you know? India imported 8.4 million metric tonnes of palm oil, making it the largest importer in the world (MMT) of palm oil in 2020–21, making up about 18% of imports worldwide. In terms of edible oil consumption, India ranks third globally and imports 62% of its edible oil needs (2020–21), with palm oil accounting for the majority of imports. So, today in this blog, we will discuss palm oil imports in India, top palm oil importers in India, and exact HS codes.
First, we must understand what palm oil is. The edible vegetable oil known as palm oil is made from the reddish pulp, or mesocarp, of oil palm fruit. The oil is utilized in the production of food, cosmetics, and biofuel.
The second thing we need to know is whether it is healthy. Experts in nutrition from Harvard say that palm oil is unquestionably superior to high-trans fat shortenings and most likely superior to butter. However, your first choice should still be vegetable oils like canola and olive that are naturally liquid at room temperature.
Also, it is used as an edible oil and in processed foods like chocolate bars and ice cream, instant noodles, and margarine. Cosmetics, soaps, shampoos and detergents also use palm oil derivatives.
Due to its low cost and versatility in food products, palm oil is essential for India, as it is the most widely consumed and reasonably priced edible oil in the country. However, because of its high saturated fat content, there are also concerns about its potential health risks and environmental impact, especially for low-income populations. Check out the most recent updated list of import & export products here.
As per palm oil import data, about 10 million metric tons of palm oil were imported by India in the 2022–2023 oil year, an increase over the previous year. Also, India is the biggest consumer and importer of vegetable oils worldwide.
Additionally, India is the biggest importer of palm oil worldwide. In 2022, India imported about $11.1 billion worth of palm oil, primarily from Papua New Guinea, Indonesia, Malaysia, Thailand, and Singapore. At the same time, palm oil was the 8th most imported product in India.
This table shows the most recent imports of palm oil from India from March 2023 to February 2024.
|
Palm oil Import Data (Month) |
Number of Cargoes |
Indian palm oil imports Year-over-Year Growth (%) |
Sequential Growth (%) |
|
February 2024 |
554 |
-24 |
-41 |
|
January 2024 |
939 |
N/A |
N/A |
|
Total Palm oil import data (TTM) |
10,772 |
-24 |
N/A |
According to Indian palm oil imports data, 10,772 shipments of palm oil were imported between March 2023 and February 2024 (TTM). These imports were supplied to 223 Indian consumers by 644 foreign exporters.
In February 2024 alone, India purchased 554 cargoes of palm oil during this period. This indicates an annual growth of -24% from February 2023 and a sequential increase from January 2024. However, the primary sources of palm oil imports in India come from Thailand, Malaysia, and Indonesia.
Based on palm oil import data, the top three countries in the world for palm oil imports are India, Pakistan, and Ukraine. The world's largest importer of palm oil is India, with 82,400 shipments, followed by Pakistan with 37,622 shipments and Ukraine in third position with 21,428 shipments.
The top 10 palm oil imports by nation are listed below:
|
Top Rank |
Top 10 Palm Oil Importing Countries |
Palm Oil Import Data (Import value) |
|
1 |
India |
US$ 8,787.24 million |
|
2 |
China |
US$ 5,099.66 million |
|
3 |
Pakistan |
US$ 2,921.51 million |
|
4 |
United States |
US$ 2,019.14 million |
|
5 |
Netherlands |
US$ 1,527.01 million |
|
6 |
Italy |
US$ 1,500.96 million |
|
7 |
Egypt |
US$ 1,304.27 million |
|
8 |
Spain |
US$ 1,248.62 million |
|
9 |
Germany |
US$ 913.54 million |
|
10 |
Philippines |
US$ 871.52 million |
Based on palm oil import data, India was the world's top importer of palm oil in 2023, importing approximately 9.4 million barrels per month. With 6.8 million barrels per month, China ranked as the second-largest importer. Additionally, contact our team of Eximpedia specialists if you need the most recent details on Indian palm oil importers or palm oil importers. To know the updated list of global exporters & importers companies, explore our data-driven dashboard.
Now, explore the list of top palm oil importers in India:
The following is a list of India's top palm oil importers:
Thus, these are the major palm oil importers in India. Visit Eximpedia.app to obtain a comprehensive list of the leading importers of palm oil in India, along with information on their shipment value, palm oil HS code, and other market trends.
Let’s analyze the major palm oil HS codes:
Here is an updated table for palm oil HS codes.
|
Top Palm oil HS Codes |
HS Codes Description |
|
1511 |
Palm oil and its fractions |
|
15111000 |
Crude Oil |
|
15119010 |
Refined bleached deodorized palm oil |
|
15119020 |
Refined bleached deodorized Palmoleinn |
|
15119030 |
Refined bleached deodorized palm stearin |
So, these are the major palm oil HS codes. To know the exact insights on palm oil import data in India, palm oil importers in India, or product-wise HS Codes, connect with Eximpedia.app and obtain the useful trade insights anytime.
Visit Eximpedia's data-driven dashboard to find and locate palm oil suppliers and buyers from India and around the world. You may get authentic insights on palm oil import data, Indian palm oil imports data, a list of palm oil importers, exporters, and product-wise HS Codes.
Our dashboard is powered by data, and it will give you access to tools for analyzing shipments all over the world. contains almost 130 countries in its database.
As you can see, India is importing palm oil due to a growing demand for the product. However, to manage import variances, competitive pricing, and possible surplus situations, a palm oil import business requires careful planning and excellent sourcing.
Importers of palm oil in India must focus on the best price and quality, keep up with the latest market trends, and conduct careful research on appropriate palm oil suppliers in order to successfully navigate this dynamic market.
Moreover, if you still have any queries regarding palm oil imports in India or need the exact list of palm oil importers in India or globally, connect with Eximpedia.app and explore the international trade information hassle-free.
1. Who is the biggest importer of palm oil in India?
Adani Wilmar Ltd is the largest importer of palm oil in India. Other typo palm oil importers in India include Cargill India Pvt. Ltd, Bunge India Pvt. Ltd, Marico Ltd., and K.S. Oils Ltd.
2. Why is India importing palm oil?
Due to its low cost and versatility in food products, palm oil is essential for India, as it is the most widely consumed and reasonably priced edible oil in the country.
3. Who are the top 10 importers of palm oil?
India, China, Pakistan, the United States, the Netherlands, Italy, Egypt, Spain, Germany, and the Philippines are the top palm oil importing countries in the world.
4. Which country has the highest demand for palm oil?
India is the largest consumer of palm oil in the world. In 2023-24, India imported palm oil worth US$ 8,787.24 million for domestic consumption.
5. What is the import duty on palm oil in India?
In 2024-25, India's import duty on palm oil is as follows:
Crude palm oil: 12.7%
Refined palm oil: 35.75%
Palm oil imports in India
Palm oil imports in India from Indonesia Palm oil imports in India from Malaysia
Palm oil imports in India from Thailand
Top Palm oil importers globally
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