In 2023, the import of fixed vegetable fats and oils to India stood at 16.123 million USD. Forecasts indicate a consistent upward trend, with imports reaching 17.978 million USD by 2028. This marks a steady year-on-year increase, with an average compound annual growth rate (CAGR) of around 1.89% over the five-year span. Year-on-year increases are modest but indicate a stable rising demand for these products in India.
Future trends to watch for include:
- Potential shifts in global oil prices impacting import costs.
- Domestic production changes potentially altering import needs.
- Consumer trends shifting towards different types of vegetable oils.
