India's vegetable oils import rises 26% in November 2014

Current stock of edible oils as on 01 December 2014 at various ports is estimated at 860,000 tonnes

The Solvent Extractors' Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of November 2014. Import of vegetable oils during November 2014 is reported at 1,189,934 tonnes compared to 944,309 tonnes in November 2013, consisting of 1,149,131 tonnes of edible oils and 40,803 tonnes of non-edible oils i.e. up by 26%.

In last two months, due to Nil export duty on palm products by Indonesia and Malaysia, lowest prices of palm products in last 5 years and reduced demand of CPO for bio diesel, pushed the export of palm products to India to reduce burgeoning stock held by the exporting countries. Also, due to high prices of soybean and lesser realization for oil and soybean meal in export market, resulted in lower crushing and availability of domestic oil coupled with anticipated increase in import duty by the Indian Government, raised the import during November 2014 to a record level compared to November 2013 & November 2012.

Current stock of edible oils as on 01 December 2014 at various ports is estimated at 860,000 tonnes (CPO 555,000 tonnes, RBD Palmolein 80,000 tonnes, Degummed Soybean Oil 60,000 tonnes, Crude Sunflower Oil 130,000 tonnes and 35,000 tonnes of Rapeseed (Canola) Oil and about 1,100,000 tonnes in pipelines. Total stock, both at ports and in pipelines increased to 1,960,000 tonnes from 1,860,000 tonnes in November 2014 and 1,470,000 tonnes in December 2013.

During November 2014, Import of refined oil (RBD Palmolein) has down by 73% due to Nil export duty by Indonesia and Malaysia and reported at 55,815 tonnes compared to 208,076 tonnes in November 2013. However, Import of crude oil up by 52% and reported at 1,093,316 tonnes compared to 719,035 tonnes in November 2013.

During November 2014, Palm Oil import has increased marginally to 796,587 tonnes from 774,207 tonnes in November 2013, however overall share of palm oil products down to 69% from 84%. Soft Oils import has increased to 352,544 tonnes from 152,904 tonnes last year. The share of soft oils import increased to 31% from 16% last year.

From December 2013 to December 2014 RBD Palmolein prices is down by (-)16%, Crude Palm Oil (-)20%, Crude Soybean Oil (-)13% and Crude Sunflower Oil (-)6%.

Import of Non-edible oils during November 2014 is reported at 40,803 tonnes compared to 17,198 tonnes during the same period last year. i.e. up by 137%. P.F.A.D., P.K.F.A.D.,C.P.K.O. & RBD Palm Sterin are the major import of non-edible oils.

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