MARKET DEVELOPMENT
India Imports 783,734 Tonnes Of Palm Oil In Sept
India Imports 783,734 Tonnes Of Palm Oil In Sept
15/10/2015 (Bernama) - India, the world's largest edible oil importer, absorbed 783,734 tonnes of palm oil in September 2015, slightly down from 810,594 tonnes it imported in August 2015, The Solvent Extractors' Association of India revealed today.
In a statement Wednesday, the association said India's total vegetable oil import for the month jumped 16 per cent to 1.21 million tonnes as compared with 1.04 million tonnes in September 2014, consisting of 1.20 million tonnes of edible oils and 11,039 tonnes of non-edible oils.
The overall import of vegetable oils during November 2014 to September 2015 was reported at 12.94 million tonnes compared with 10.57 million tonnes, up by 22 per cent, it said.
The trade body said the current stock of edible oils as on Oct 1, 2015 at various ports was estimated at 780,000 tonnes, of which crude palm oil made up 350,000 tonnes; refined, bleached and deodorised palm olein (85,000 tonnes); degummed soyabean oil (200,000 tonnes); crude sunflower oil (85,000 tonnes); rapeseed (canola) (60,000 tonnes); and, about 1.46 million tonnes in pipelines.
Total stock at ports and in pipelines decreased to 2.24 million tonnes from 2.32 million tonnes previously, it said.
It said India's monthly requirement was about 1.6 million tonnes against which currently holding stock over 2.24 million tonnes equalled to 42-day requirements.
In a statement Wednesday, the association said India's total vegetable oil import for the month jumped 16 per cent to 1.21 million tonnes as compared with 1.04 million tonnes in September 2014, consisting of 1.20 million tonnes of edible oils and 11,039 tonnes of non-edible oils.
The overall import of vegetable oils during November 2014 to September 2015 was reported at 12.94 million tonnes compared with 10.57 million tonnes, up by 22 per cent, it said.
The trade body said the current stock of edible oils as on Oct 1, 2015 at various ports was estimated at 780,000 tonnes, of which crude palm oil made up 350,000 tonnes; refined, bleached and deodorised palm olein (85,000 tonnes); degummed soyabean oil (200,000 tonnes); crude sunflower oil (85,000 tonnes); rapeseed (canola) (60,000 tonnes); and, about 1.46 million tonnes in pipelines.
Total stock at ports and in pipelines decreased to 2.24 million tonnes from 2.32 million tonnes previously, it said.
It said India's monthly requirement was about 1.6 million tonnes against which currently holding stock over 2.24 million tonnes equalled to 42-day requirements.