In July, the import of vegetable oil to India is expected to grow to a record level, according to the forecast.

India may import a record 1.86 million tons of vegetable oil in July, which is almost 0.6 million tons higher than the previous month, according to market participants surveyed by Reuters.

According to their estimates, the import of the mentioned product into the region will increase amid a seasonal rise in demand in the country ahead of national festivals and uncertainty with shipments via the Black Sea after the completion of the “grain deal.”

“From July 1 to 24, about 1.5 million tons of edible oils were unloaded at Indian ports. It is expected that another 386,000 tons will be received in the remaining seven days,” the materials said.

Preliminary estimates suggest that palm oil imports will grow by 46% compared to the previous month, reaching 1 million tons, the highest level so far this year.

Imports of sunflower oil could double by June, reaching 385,000 tons. Soybean oil deliveries are expected to reach the highest level of the year at 475,000 tons.

Indonesia, Malaysia, and Thailand are the main suppliers of palm oil to India. Soybean oil is primarily sourced from traders in Argentina and Brazil, while sunflower oil is imported from Ukraine and Russia.