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Informist, Wednesday, Aug 14, 2024

 

--SEA: India Jul crude palm oil import 936,876 tn vs 841,469 tn yr ago

--SEA: India Jul RBD palmolein import 136,853 tn vs 237,379 tn yr ago

--SEA: India Jul crude soyoil import 391,791 tn vs 342,270 tn yr ago

--SEA: India Jul sunflower oil import 366,541 tn vs 327,259 tn yr ago

--SEA: India Nov-Jul sunflower oil import 2.83 mln tn vs 2.18 mln tn

--SEA: India Nov-Jul crude palm oil import 5.24 mln tn vs 5.42 mln tn

--SEA:India Nov-Jul crude soyoil import 2.26 mln tn vs 2.82 mln yr ago

--SEA: India Nov-Jul RBD palmolein import 1.52 mln tn vs 1.64 mln tn

--SEA:India Nov-Jul edible oil import 11.9 mln tn vs 12.1 mln tn yr ago

--SEA: India Nov-Jul veg oil import 12.12 mln tn vs 12.25 mln tn

--SEA: India Aug 1 edible oil stock in ports at 988,000 tn

--SEA: India Aug 1 edible oil stock in pipeline at 1.91 mln tn

--SEA: India Jul vegetable oil import 1.89 mln tn vs 1.77 mln tn yr ago

--SEA: India Jul edible oil import 1.84 mln tn vs 1.76 mln tn yr ago
 

MUMBAI – India's vegetable oil imports rose 7% on year to 1.89 mln tn in July, the Solvent Extractors' Association of India said in a release today. The vegetable oil basket comprises edible and non-edible oils. Imports of vegetable oils consisted of 1.84 mln tn of edible oils and 55,014 tn of non-edible oils in July, the association said.

 

In July, edible oil imports by India, the world's largest importer of edible oils, rose 5% on year to 1.84 mln tn. "The overall import of vegetable oils during the first nine months of the current oil year (Nov-Jul) totalled 12.12 mln tn, marking a slight decrease of 1% compared to 12.25 mln tn during the same period last year," the association said. 

Imports of crude palm oil rose 11% on year to 936,876 tn in July, SEA said in the release. Refined, bleached and deodorised palmolein imports were down 42% last month to 136,853 tn in July. Imports of crude soyoil were up 14.5% at 391,791 tn.

 

Imports of crude sunflower oil in July were at 366,541 tn compared with 327,259 tn a year ago. "The third quarter witnessed a substantial surge in imports, jumping by 20%, driven by a large influx in July 2024, in anticipation of the upcoming festival season in India," SEA said. 

 

The edible oil year runs from November to October. The edible oil import basket comprises crude and refined palm oils, crude soyoil, and sunflower oil. During Nov-Jul, India imported palm oil from Indonesia, Malaysia, Papua New Guinea, and Thailand, and soyoil from Argentina and Brazil. Sunflower oil was imported from Russia, Romania, Ukraine, and Argentina. Indonesia and Malaysia are also the major suppliers of refined, bleached and deodorised palmolein to India. 

 

As of Aug 1, the total stock of edible oil available was estimated at 2.9 mln tn, against 3.3 mln tn a year ago. Of the 2.9 mln tn, about 988,000 tn of edible oil was at ports and around 1.9 mln tn in the pipeline, the association said. 

 

The following table details import figures of edible oils in Jul, in tn, compared with the year-ago levels and the change in percentage, according to data from the SEA:

 

Edible oil	July 2024	July 2023	Change (in %)
Crude palm oil	936,876	841,469	11.3
RBD palmolein	136,853	237,379	(-)42.3
Crude soyoil	391,791	342,270	14.5
Crude sunflower oil	366,541	327,259	12
Total	1,840,062	1,755,834	4.7

 

End

 

Reported by Anjali Lavania

Edited by Manisha Baxla

 

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