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Domestic Vegetable Oil Imports Down 2% In September 2018

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The Solvent Extractors' Association (SEA) of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of September 2018. Import of vegetable oils during September 2018 is reported at 1,491,174 tons compared to 1,519,277 tons in September 2017 consisting 1,422,003 tons of edible oils and 69,171 tons of non-edible oils i.e. down by 2%. The overall import of vegetable oils during November 2017 to September 2018 (11 months) is reported at 13,769,847 tons compared to 14,272,845 tons i.e. down by 3.5%.

SEA noted further that in spite of rupee depreciation, in August and September, import of vegetable oil jumped compared to previous months, as pipelines were dried up due to lesser import during June & July 2018 months, coupled with improved parity in import of palm oil due to reduction in spread between palm oil and soft oils, resulted into higher import. The stock of edible oils as on 1st October 2018 at various ports is estimated at 923,000 tons (CPO 330,000 tons, RBD Palmolein 220,000 tons, Degummed Soybean Oil 220,000 tons, Crude Sunflower Oil 145,000 tons and 8,000 tons of Rapeseed (Canola) Oil) and about 1,630,000 tons in pipelines. Total stock at ports and in pipelines is reported at 2,553,000 tons, decreasing by 21,000 tons from 2,574,000 tons in September, 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 16 2018. 13:15 IST