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Informist, Tuesday, Jan. 14, 2025

 

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--SEA: India Dec vegetable oil import 1.23 mln tn vs 1.31 mln tn yr ago 
--SEA: India Dec edible oil import 1.19 mln tn vs 1.31 mln tn yr ago 
--SEA: India Dec crude palm oil import 326,587 tn vs 620,020 tn yr ago 
--SEA: India Dec RBD palmolein import 165,290 tn vs 251,667 tn yr ago 
--SEA: India Dec crude soyoil import 420,651 tn vs 152,650 tn yr ago 
--SEA: India Dec sunflower oil import 264,836 tn vs 260,850 tn yr ago 
--SEA: India Nov-Dec sunflower oil import 605,496 tn vs 389,557 tn 
--SEA: India Nov-Dec crude palm oil import 873,896 tn vs 1.31 mln tn 
--SEA: India Nov-Dec crude soyoil import 828,299 tn vs 302,544 yr ago 
--SEA: India Nov-Dec RBD palmolein import 449,827 tn vs 422,736 tn 
--SEA: India Nov-Dec edible oil import 2.78 mln tn vs 2.46 mln tn yr ago 
--SEA: India Nov-Dec veg oil import 2.86 mln tn vs 2.47 mln tn year ago 

 

MUMBAI – India's vegetable oil imports in December were 1.23 million tonnes, down 6% from the corresponding period last year, the Solvent Extractors' Association of India said Tuesday. The vegetable oil imports in the second month of the oil year 2024-25 (Nov-Oct) consisted of 1.19 million tonnes of edible oils and 45,764 tonnes of non-edible oils, the association said. Edible oil imports in December fell 9.3% on year.

 

India is the world's largest importer of edible oils. The edible oil basket comprises crude and refined palm oils, crude soyoil, and sunflower oil.

 

The overall import of vegetable oils during the first two months of the oil year 2024-25 is reported at 2.86 million tonnes compared to 2.47 million tonnes during the same period last year, up 16%, the association said in a release. 

Crude palm oil imports fell nearly 47% on year to 326,587 tonnes in December, while refined, bleached and deodorised palmolein imports fell 34% to 165,290 tonnes. Crude palm oil imports during Nov-Dec were down 33% at 873,896 tonnes, while refined, bleached and deodorised palmolein imports during the same period were up nearly 6% at 449,827 tonnes. 

 

Palm oil is losing market share in India and slowing down and share is being taken by soyoil, the release said.  Malaysian palm oil exports declined as tightening export supplies prompted consumers to switch to lower priced South American soyoil, it said. The global trend volume of soyoil has skyrocketed in recent months, promoted by extremely large price discounts. The strong response of consumers to the attractive soyoil prices is leading to a quick absorption of the surplus soyoil and easing the tightness in palm oil, the association said. 

 

Crude soyoil imports during December increased to 420,651 tonnes from 152,650 tonnes in December. Crude soyoil imports during Nov-Dec, rose to 828,299 tonnes from 302,544 tonnes. 

 

Crude sunflower oil imports rose to 264,836 tonnes in December from 260,850 tonnes a year ago, the association said. Soft oil imports consisting of soyoil, sunflower, mustard and others rose to 1.43 million tonnes during Nov-Dec from 692,101 tonnes for the same period last year. 

 

During the first two months of the oil year 2024-25, India imported palm oil and refined, bleached and deodorised palmolein from Indonesia and Malaysia, soyoil from Argentina, Brazil, and Russia and sunflower oil from Russia, Ukraine, and Argentina. Indonesia was the major supplier of palm oil to India during November and December. India imported around 416,272 tonnes of crude palm oil during the same period, the association said. 

 

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

 

Edible oil	December 2024	December 2023	Change (in %)
Crude palm oil	326,587	620,020	(-)47
RBD palmolein	165,290	251,667	(-)34
Crude soyoil	420,651	152,650	176
Crude sunflower oil	264,836	260,850	1.5
Total (vegetable oil)	1,231,426	1,311,686	(-)6

 

End

 

Reported by Anjali Lavania

Edited by Tanima Banerjee

 

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