Import of Vegetable Oils up by 8% in August 2017

Import of vegetable oils during August 2017 is reported at 1,361,272 tons compared to 11,261,827 tons in August 2016 i.e. up by 8%, as per the import of vegetable oils (edible & non-edible)data complied by The Solvent Extractors' Association of India. It consist of 1,336,925 tons of edible oils and 24,347 tons of non-edible oils. The overall import of vegetable oils during first ten months of current oil year 2016-17, November 2016 to August 2017 is reported at 12,749,568 tons compared to 12,165,605 tons last year i.e. up by 5% considering increase in import, India may be importing about 15.0 mnt. of vegetable oils by oil year ending October 2017 (2016-17).

The stock of edible oils as on 1st September 2017 at various ports is estimated at 907,000 tons (CPO 340,000 tons, RBD Palmolein 150,000 tons, Degummed Soybean Oil 250,000 tons, Crude Sunflower Oil 150,000 tons and 17,000 tons of Rapeseed (Canola) Oil) and about 1,590,000 tons in pipelines. Total stock at ports and in pipelines increased to 2,97000 tons from 2,473,000 tons in August 2017. India's monthly requirement is about 17.50 lakh tons and operate at 30 days stock against which currently holding stock over 24.97 lakh tons equal to 43 days requirements.

During November 2016 - August 2017, Import of refined oil (RBD Palmolein) has sharply increased to 2,461,580 tons from 2,196,105 tons in the same period of last year, Also Import of crude oil increased to 9,976,440 tons from 9,840,728 tons during the same period of last year.

During November 2016 - August 2017, Palm Oil import has increased to 7,610,422 tons from 6,930,184 tons during the same period of last year, overall share of palm oil products increased to 61% from 58%, thanks to larger import of RBD Palmolein. Soft Oils import reduced to 4,827,598 tons from 5,106,6496 tons last year, however, within soft oils, import of sunflower oil has sharply increased at the cost of soybean oil.

Since April'16 and onwards landed price of RBD Palmolein has remained same or lower than CPO, encouraging larger import of RBD Palmolein at the cost of CPO. The spread between palm oil and soft oil reduced encouraging larger import of soft oils. Importers continues to make larger import purchases of Sunflower oil, taking advantage of attractive price vis-vis Soya oil. Also, strengthening of rupee in the last 6 months supported the import of vegetable oils.

Import of Non-edible oils during November 2016 - August 2017 is reported at 311,548 tons compared to 128,722 tons during the same period last year. P.F.A.D., P.K.F.A.D., C.P.S. & RBD Palm Stearin are the major import of non-edible oils. We are enclosing herewith detailed statements of Import of Edible and Non-edible Oils during November 2016 to August 2017 with comparative period for previous year for your kind information and necessary coverage in your esteemed media & oblige.

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