India Buys Record 300,000 Tonnes of Argentine Soybean Oil During Duty Suspension

India secured over 300,000 tonnes of soybean oil from Argentina in just three days, marking the largest three-day purchase ever, according to trade experts. The contracts were signed during Argentina’s temporary suspension of export duties on soybeans, soybean oil, meal, wheat, corn, and biodiesel until September 22, 2025, aimed at stabilising its currency and boosting dollar earnings.

Importers capitalised on the resulting price drop of roughly $50 per tonne, with deals valued at $1,100–1,200 per tonne, including shipping and insurance. Analysts noted that Indian buyers focused on soybean oil over palm oil during this period.

India, the world’s largest edible oil importer, typically imports around 300,000 tonnes of soybean oil monthly. The recent bulk purchase is expected to enhance domestic supply, providing relief to consumers amid high international palm oil prices, especially during the upcoming festive season.

01-10-2025