India record soyoil imports amid sunflower disruption

India's soyoil imports are set to hit a record high in August 2026, reaching an estimated 620,000 metric tons, nearly 46% above the current marketing year's monthly average, according to traders. This surge is driven by competitive soyoil prices and disruptions to sunflower oil shipments from the Black Sea due to the Russia-Ukraine war. Sunflower oil imports are expected to fall to 180,000 metric tons in August, the lowest since February 2026, with around 150,000 tons of Black Sea sunflower oil shipments delayed. Buyers in southern India, who typically prefer sunflower oil, are switching to soyoil. The premium of soyoil over palm oil has narrowed to about $50 per metric ton from over $100 in April, making soyoil more attractive. India is also sourcing soyoil from new destinations such as China, Egypt, Thailand, and Turkey, in addition to traditional suppliers Argentina and Brazil. The country has bought nearly 1.4 million tons for shipment between September and December, with imports expected to exceed 600,000 tons in September. Concerns over El Nino affecting local oilseed production are also prompting increased purchases.