MARKET DEVELOPMENT
India's Import Of Vegetable Oils Up
India's Import Of Vegetable Oils Up
17/06/2014 (Bernama) - India's import of vegetable oils, both edible and non-edible, in May 2014 jumped 13 per cent to 1,033,550 tonnes compared with 917,964 tonnes in May, 2013.
Out of the total imports, 1,022,004 tonnes were edible oils and 11,546 tonnes of non-edible oils.
The overall import of vegetable oils during November 2013 to May 2014 is reported at 6,198,541 tonnes, slightly higher compared with 6,197,469 tonnes, The Solvent Extractors' Association of India said in a statement here today.
During November 2013-May 2014, import of refined oil (RBD palm olein) is reported at 999,320 tonnes compared with 1,248,024 tonnes during the same period of last year.
Import of crude oil increased to 5,095,776 tonnes compared with 4,782,805 tonnes during the same period of last year, it said.
However, palm oil import in the seven months has decreased to 4,332,848 tonnes from 5,082,926 tonnes during the same period of last year due to disparity in processing, it said.
To bridge the supply gap, soft oils import nearly doubled to 1,762,248 tonnes from 937,985 tonnes during the same period of last year.
"Indian refiners prefer to import crude soft oils over Crude Palm Oil (CPO) in India, which has reflected in pattern of import in last few months," it said.
Current stock of edible oils as on June 1, 2014 at various ports is estimated at 610,000 tonnes, of which Crude Palm Oil is 285,000 tonnes, refined bleached deodorised (RBD) palm olein 75,000 tonnes, degummed soyabean Oil 95,000 tonnes, crude sunflower oil 145,000 tonnes and rapeseed Oil 10,000 tonnes.
There are about 810,000 tonnes in pipeline.
Total stock, both at ports and in pipeline increased to 1,420,000 tonnes from 1,165,000 tonnes, mainly due to higher import of sunflower and soyabean oils, said the association.
Out of the total imports, 1,022,004 tonnes were edible oils and 11,546 tonnes of non-edible oils.
The overall import of vegetable oils during November 2013 to May 2014 is reported at 6,198,541 tonnes, slightly higher compared with 6,197,469 tonnes, The Solvent Extractors' Association of India said in a statement here today.
During November 2013-May 2014, import of refined oil (RBD palm olein) is reported at 999,320 tonnes compared with 1,248,024 tonnes during the same period of last year.
Import of crude oil increased to 5,095,776 tonnes compared with 4,782,805 tonnes during the same period of last year, it said.
However, palm oil import in the seven months has decreased to 4,332,848 tonnes from 5,082,926 tonnes during the same period of last year due to disparity in processing, it said.
To bridge the supply gap, soft oils import nearly doubled to 1,762,248 tonnes from 937,985 tonnes during the same period of last year.
"Indian refiners prefer to import crude soft oils over Crude Palm Oil (CPO) in India, which has reflected in pattern of import in last few months," it said.
Current stock of edible oils as on June 1, 2014 at various ports is estimated at 610,000 tonnes, of which Crude Palm Oil is 285,000 tonnes, refined bleached deodorised (RBD) palm olein 75,000 tonnes, degummed soyabean Oil 95,000 tonnes, crude sunflower oil 145,000 tonnes and rapeseed Oil 10,000 tonnes.
There are about 810,000 tonnes in pipeline.
Total stock, both at ports and in pipeline increased to 1,420,000 tonnes from 1,165,000 tonnes, mainly due to higher import of sunflower and soyabean oils, said the association.