The data from the Solvent Extractors Association of India (SIA) reveals a decline in the import of RBD (Refined, Bleached, and Deodorized) palmolein over the last few years, with imports falling from 21.07 lakh tonnes in the 2022-23 marketing season to 19.31 lakh tonnes in 2023-24. However, this is still a notable increase compared to earlier years.

In the 2021-22 season, imports were slightly above 18.41 lakh tonnes, while the 2020-21 season saw a significant dip, with imports limited to just 6.86 lakh tonnes.

The data further highlights the monthly breakdown of RBD palmolein imports in the 2023-24 season. Imports ranged from 92,000 tonnes in August 2024 to as high as 2.36 lakh tonnes in October 2024, with October imports spiking due to the festive season, which typically sees increased demand for edible oils.

A significant portion of the imports came from Indonesia, which accounted for approximately 16.33 lakh tonnes, while Malaysia contributed 2.93 lakh tonnes, and Thailand made a small contribution of about 5,000 tonnes.

As of now, India maintains a 35.75% import duty on RBD palmolein, which has had an impact on the dynamics of import volumes.

This decline, while still above the levels of earlier years, may reflect a combination of factors, including domestic production trends, price fluctuations, and global supply chain shifts.