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Friday, May 20, 2022

Vegetable oil imports fall 13% to 9.12 lakh tonnes in April

Imports of vegetable oils, comprising edible and non-edible oils, fell 13 per cent to just about 9.12 lakh tonnes throughout April resulting from decrease import of crude palm oil, in response to trade knowledge.

The Solvent Extractors’ Association of India (SEA) mentioned in a press release that import of vegetable oils stood at 9,11,846 tonnes in April 2022 in comparison with 10,53,347 tonnes in April 2021.

The import of edible oils fell to 9,00,085 tonnes from 10,29,912 tonnes, whereas shipments of non-edible oils declined to 11,761 tonnes from 23,435 tonnes.

Import of crude palm oil in April dropped to 4,14,829 tonnes from 6,89,731 tonnes in the identical month final yr.

Imports of vegetable oils through the first six months of this oil advertising and marketing yr (November 2021 to April 2022) rose 4 per cent to 67,07,574 tonnes. It was 64,28,350 tonnes within the corresponding interval of the earlier oil advertising and marketing yr.

Oil advertising and marketing yr runs from November to October.

“Indonesia has banned export of palm oil with effect from April 28, 2022 which has queered the pitch and make life difficult for hapless consumer across the world,” SEA mentioned in a press release.

India imports about 6,00,000-6,50,000 tonnes of palm oil per 30 days from Indonesia, Malaysia and Thailand and different international locations.

Out of which, Indonesia provides about 3,00,000 tonnes, primarily RBD Palmolein, and related amount arrives from Malaysia and remaining 10 per cent from Thailand and different international locations.

“It is expected, Indonesia may lift the ban before the end of May, however, situation will turn ugly if Indonesia continue to ban the export of palm oil products as enough supply from other origins is not available,” SEA mentioned.

The import of refined oil (all of refined palmoilen) jumped to 9,20,947 tonnes through the first six months of the present oil yr, from 24,101 tonnes within the year-ago interval.

During November 2021 to April 2022, palm oil imports have decreased to 32,25,761 tonnes from 3,792,354 tonnes within the year-ago interval, whereas mushy oil import has elevated to 33,17,242 tonnes from 2,477,884 tonnes primarily resulting from greater import of soybean oil.

According to the SEA, throughout oil advertising and marketing yr beneath overview, about 11.10 lakh tonnes of sunflower oil was imported by India, primarily from Ukraine (842,956 tonnes), Russia (210,905 tonnes) and Argentina (56,426 tonnes).

“No cargo befell from Ukraine since March 27, 2022. In April, sunflower oil import is reported at 54,426 tonnes solely.

High costs of sunflower oil in worldwide market and lesser availability, and excessive home costs have shrunk the demand and consumption of sunflower oil in India,” SEA mentioned.

This shortfall partially being changed by different edible oils like palmolein, soybean oil, groundnut oil and rice bran oil, it added.

Source: www.financialexpress.com”

Business Khabar
Business Khabar
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