Vegetable oil imports down marginally to 11.28L tn in November

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Published: December 14, 2019 3:20:28 AM

In August, the import of RBD Palmolein was 257,000 tonne and 264,000 tonne in September. The import went down to 118,000 tonne and 125,000 tonne in October and November, respectively.

Vegetable oil, Vegetable oil import, economy news, refined oil import The stock of edible oils as on December 1, 2019, at various ports is estimated at 881,000 tonne.

The country’s import of vegetable oils, both edible and non-edible, has dropped 0.5% in November 2019 at 1,128,220 tonne, against 1,133,893 tonne in November last year, according to data compiled by the Solvent Extractors’ Association of India (SEA). The imposition of 5% safeguard duty on refined palm oil from Malaysia, which has been in effect since September 4, 2019, has reduced its import drastically.

In August, the import of RBD Palmolein was 257,000 tonne and 264,000 tonne in September. The import went down to 118,000 tonne and 125,000 tonne in October and November, respectively.

The stock of edible oils as on December 1, 2019, at various ports is estimated at 881,000 tonne. However, pipeline stock increased to 630,000 tonne on the same date, as compared to 590,000 tonne on November.

During November 2019, palm oil imports had decreased to 671,863 tonne from 691,827 tonne in November last year. Soft oils import, however, increased to 428,061 tonne from 381,526 tonne in November 2018.

During November 2019, import of refined oil (RBD Palmolein) increased to 124,909 tonne from 108,911 tonne in November 2018. Also, import of crude oil increased to 975,015 tonne from 964,442 tonnes in November 2018. Import of non-edible oils during November 2019 is reported at only 30,796 tonne, compared to 60,450 tonne during the same period last year.

Total stock at ports and in pipelines is reported at 1,511,000 tonne, decreased by 266,000 tonne from 1,777,000 tonne as on November 1, 2019.

India’s monthly requirement is about 19 lakh tonne and operate at 30 days stock against which currently holding stock over 15.11 lakh tonne equal to 24 days requirements against 21.91 lakh tonne stock as on December 1, 2018.

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