Agri Business

Palmoil imports plunge 90% in March with fresh curbs

Our Bureau Ahmedabad | Updated on April 06, 2020

SEA’s provisional data reveal 32% fall in overall imports of edible oils

Refined palmolein imports have plunged drastically following the government putting RBD Palmolein under the restricted list, according to trade body Solvent Extractors’ Association of India (SEA). The Centre had put RBD Palmolein under the restricted list with effect from January 8, 2020.

The imports of RBD Palmolein fell 90% in March 2020 to 30,850 tonnes, from the previous-year period’s 3,12,673 tonnes.

For the period November 2019 to March 2020, the imports were 66 per cent less YoY, SEA said.

In a report compiled and released by it based on the interim provisional data on edible oil imports in March, SEA noted that the nationwide lockdown made it unable to collate data from all sources.

“The imports of CPO and CPKO also registered a 12 per cent dip during the November 2019 to March 2020 period. This decline in the imports of palm products has directly benefited the imports of soft oils such as soyabean and sunflower, which is evident by their increase in imports by 22 per cent and 17 per cent, respectively,” the SEA noted.

Soyabean imports in March 2020 were at 2,92,410 tonnes, almost similar to March 2019. Sunflower oil imports also remained stable at 2,96,501 tonnes.

Based on the available data, SEA said there was a 32 per cent dip in overall imports of edible oils at 9,41,219 tonnes, compared to 13,91,255 tonnes in March 2019.

“The overall import of edible oils during November 2019 to March 2020 is reported at 5,391,807 tonnes, as compared to 6,005,067 tonnes during the same period in the previous year, i.e. down by 10 per cent,” it added.

Published on April 06, 2020

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