India’s vegetable oil imports dropped 29% year-on-year in June to 11.46 lakh tonnes, a seasonal low driven by narrowing price discounts on palm oil relative to soybean oil, even as total cumulative imports for the 2025–26 oil year rose to 105.7 lakh tonnes. Conversely, agricultural and food shipments showed strong momentum: marine product exports rose 9% in Q1 FY27 to $2.12 billion due to market diversification in China and the EU, while total rice exports rose over 4% to $3.03 billion despite West Asian logistics bottlenecks. Meanwhile, a sharp 24.4% decline in Indian steel and aluminum exports to the European Union (with steel alone down 35.1%) before the formal enforcement of the EU’s Carbon Border Adjustment Mechanism (CBAM) signals that European buyers are proactively shifting toward lower-emission suppliers, putting pressure on India’s Carbon Credit Trading Scheme (CCTS) to establish a strong, credible carbon price.