Total edible oil imports up by 7.2 per cent in four months

Import of edible oil amplified by 7.20 for every cent in the initial four months of the oil calendar year 2021-22. Although there was expansion in the import of tender oils, import of palm oil witnessed a decrease throughout the interval. (Oil calendar year ranges from November to October.)

In accordance to the facts obtainable with the Solvent Extractors’ Association (SEA) of India, the place imported 4.59 million tonnes (mt) of edible oil all through November-February of oil 12 months 2021-22 as against 4.28 mt through the corresponding interval of oil calendar year 2020-21.

Of this, the share of palm oil (which contains RBD palmolein and crude palm oil) lessened to 2.11 mt for the duration of November-February of the oil 12 months 2021-22 towards 2.56 mt in the corresponding period of 2020-21.

Import of tender oils went up to 2.47 mt all through the 1st four months of the oil 12 months 2021-22 from 1.71 mt in the corresponding period of time of 2020-21.

With this, the share of palm oil in the full edible oil imports declined to 46 for each cent and that of tender oils went up to 54 for each cent throughout the 1st 4 months of the oil year 2021-22. This share was at 60 per cent for palm oil and 40 for every cent for smooth oils in the course of November-February of the oil calendar year 2020-21.&#13

Gentle oils

BV Mehta, Government Director of SEA of India, mentioned the maximize in the share of gentle oils is largely mainly because of the bigger import of soyabean oil for the duration of the oil yr 2021-22.

India imported 16.34 lakh tonnes (lt) of soyabean oil during November-February of 2021-22 as versus 9.48 lt in the corresponding period of time of 2020-21, an increase of 72.36 for every cent. India mainly imported 10.91 lt of crude soyabean degummed oil from Argentina and 3.4 lt from Brazil. This was followed by the import of 79,576 tonnes of crude soyabean degummed oil from the US, and 61,126 tonnes from Turkey.

The ordinary CIF import rate of crude soyabean oil stood at $1,595 a tonne during February as against $1,506 a tonne in January.

Palm oil

In the situation of palm oils, import of crude palm oil (CPO) declined to 1.56 mt (2.48 mt) and of RBD palmolein elevated to 5.19 mt (21,601 tonnes) for the duration of the initially 4 months of the oil calendar year.

Mehta explained the import of RBD palmolein jumped at the price of reduction of import obligation on CPO.&#13

On the pleas made by SEA of India for much larger duty change in between CPO and refined palm oil, the Union Finance Ministry decreased the Agriculture Infrastructure and Growth Cess on imports of CPO to 5 per cent from the prevailing 7.5 for each cent, he stated, incorporating, this assisted boost the duty differential in between CPO and RBD palmolein to 8.25 for every cent from earlier 5.5 for every cent. “This presented a minimal aid to the beleaguered refining marketplace, but not ample,” he said.

Indonesia and Malaysia were being the key suppliers of palm oil to India. Through November-Febraury 2021-22, Malaysia exported 10.49 lt of CPO and 1.90 lt of RBD palmolein to India. This was followed by Indonesia at 4.41 lt of CPO and 3.29 lt of RBD palmolein.

The March 9 announcement of the Indonesian federal government to raise the restrict of domestic sale of palm oil from 20 for every cent to 30 for every cent will even more lessen the Indonesian export quantity and tighten the world-wide export supplies, he stated.&#13

The typical CIF import price of CPO stood at $1,594 a tonne all through February as in opposition to $1,510 a tonne in January and the regular CIF import price tag of RBD palmolein stood at $1,581 a tonne during February as from $1,490 a tonne in January.

Inventory place

As on March 1, the stock of edible oils at different ports was believed at 4.90 lt and pipeline inventory at 1.38 mt. According to the SEA data, the full stock has marginally amplified by 8,000 tonnes to 1.87 mt as on March 1 from 1.86 mt as on February 1.

All round veg oil imports

The overall import of vegetable oils (including both of those edible and non-edible) amplified to 4.69 mt for the duration of the to start with four months of the oil 12 months 2021-22 as versus 4.39 mt in the corresponding period of the oil yr 2020-21, recording a advancement of 7 for every cent.

PFAD (palm fatty acid distillate) and palm stearin are the big non-edible oils getting imported by the soap and oleo-chemical industries in the place. India imported 99,938 tonnes of non-edible oils during November-Febraury of 2021-22 as towards 1.12 lt in the corresponding time period of the preceding oil calendar year.&#13

Revealed on


March 14, 2022