Import of 100.95 lakh tonnes of edible oils in the eight months of November-June
11-Jul-2024 08:55 PM
Mumbai. Data compiled by Solvent Extractors Association of India (C), a leading industry body, shows that during the eight months from November 2023 to June 2024 in the current marketing season, a total of about 100.95 lakh tonnes of edible oil was imported in India,
which was slightly less than the import of 103.67 lakh tonnes in the same period of 2022-23 season. However, in June 2024, imports increased to above 15.27 lakh tonnes, while its quantity was recorded at 14.98 lakh tonnes in May and 13.12 lakh tonnes in June 2023.
According to the report of 'C', on July 1, 2024, a total stock of 25.71 lakh tonnes of edible oil was present at Indian ports and in the pipeline with 7.13 lakh tonnes and 18.58 lakh tonnes respectively,
which was more than the stock of 24.17 lakh tonnes available on June 1 but less than the stock of 29.40 lakh tonnes present on July 1, 2023. On July 1, Indian ports had a stock of 2.27 lakh tonnes of crude palm oil (CPO), 68 thousand tonnes of RBD palmolein, 1.11 lakh tonnes of degum soybean oil and 3.07 lakh tonnes of crude sunflower oil.
In June 2024, 1.45 lakh tonnes of refined edible oil (RBD palmolein) and 13.82 lakh tonnes of crude edible oil were imported. Including this,
about 13.82 lakh tonnes of refined edible oil and about 87.13 lakh tonnes of crude edible oil were imported in the eight months from November 2023 to June 2024. In the first eight months of the current marketing season,
the total import of crude and refined oils of the palm category was 57.63 lakh tonnes while the import of soft oils reached 43.32 lakh tonnes.
Under soft oils, 18.68 lakh tonnes of soybean oil and 24.64 lakh tonnes of sunflower oil were imported. During the period under review,
the share of palm oil in the gross import of edible oils was 57 percent and that of soft oils was 43 percent. The highest import of palm oil was from Indonesia,
soybean oil from Argentina and sunflower oil from Russia. During the month of June, compared to May,
the import of soybean oil decreased from 3.24 lakh tonnes to 2.76 lakh tonnes, while the import of sunflower oil increased from 4.11 lakh tonnes to 4.66 lakh tonnes.