As of November 15, 2024, India's stock of edible oils at ports saw a significant increase, rising to 9.40 lakh tonnes, up by 49% from the 6.31 lakh tonnes recorded on October 31, 2024. This surge in stock is attributed to regular imports of various edible oils, including crude palm oil (CPO), RBD palmolein, crude degummed soybean oil, and crude sunflower oil. The increase in stocks suggests a healthy supply chain and the availability of these oils in the domestic market.

The breakdown of stock increases is as follows:

• Crude Palm Oil (CPO) saw a 35% increase, from 2,35,400 tonnes to 3,17,358 tonnes.
• RBD Palmolein increased by 53%, from 1,02,860 tonnes to 1,57,765 tonnes.
• Crude Degummed Soybean Oil jumped by 68%, from 1,10,219 tonnes to 1,85,017 tonnes.
• Crude Sunflower Oil rose by 56%, from 1,63,867 tonnes to 2,54,814 tonnes.
• Other Edible Oils increased by 31%, from 18,956 tonnes to 24,753 tonnes.

India imports a substantial quantity of edible oils to meet its domestic demand, which averages 20-21 lakh tonnes per month. The country imports palm oil primarily from Indonesia, Malaysia, and Thailand, soybean oil from Argentina and Brazil, and sunflower oil from Russia, Romania, Ukraine, and Argentina.

In response to the increased demand for timely deliveries, the Indian government has instructed port authorities to expedite the clearance of edible oil consignments, ensuring they are not unnecessarily detained for customs clearance. This move is aimed at preventing delays and ensuring the smooth supply of edible oils in the domestic market. Furthermore, the government recently raised the basic import duty on both crude and refined edible oils by 20%, a measure likely designed to protect domestic oil producers and regulate imports.