Topic
agricultural commodities
Trade Soybean Oil Competitive in 2027 as Argentina Plans Export Tax Cuts
Argentina will gradually reduce export taxes on soybean and soy byproducts from January 2027 to December 2028, improving competitiveness for major importers like India. The US Department of Agriculture (USDA) reported the plan, announced by President Javier Milei on May 21 and published in the Official Bulletin on June 3, 2026. The cuts aim to support soybean cultivation and could benefit India, which imports around 2.5 million tonnes of soybean oil from Argentina annually.
Commodities India Palm Oil Imports Rise in May but Stay Below Average Levels
India's palm oil imports edged up 7% month-on-month in May to 549,356 metric tons, rebounding from a four-month low but remaining below the 632,000-ton monthly average of the previous marketing year. The Solvent Extractors' Association of India (SEA) reported that soyoil imports surged 37% as its price advantage over palm oil narrowed, while sunflower oil imports fell nearly 32%. Total vegetable oil imports rose 4.2% to 1.37 million tons, the highest in three months.