Crude edible oil imports rise as global price fall boosts refinery margins

Prices have fallen by 11-25% abroad over the past year, due to excess supply and also reduced demand from India, one of the largest players

Import of crude edible oil is at a new high, thanks to a sharp improvement in margins of refineries. The average global price of crude palm oil (CPO) declined by $25 to $551 a tonne for September, which made its import viable for Indian refineries. In contrast, the price of refined oil (refined, bleached and deodorised or RBD) remained flat at $578 a tonne.

“Edible oil refineries are operating at a very thin margin. The $25 a tonne difference between CPO and RBD helped the import decision in favour of CPO,” said B V Mehta, executive director, Solvent Extractors’ Association.

Data from