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Import of vegetable oils decreased by 2 per cent during November this year compared with November 2019.
A statement by BV Mehta, Executive Director of Solvent Extractors’ Association (SEA) of India, said the country imported 11,02,899 tonnes of vegetable oils during November 2020 as against 11,27,220 tonnes in November 2019, registering a decline of 2.15 per cent.
Of the vegetable oil imported during the period, the share of palm oil decreased and that of soft oils went up during November.
The country imported 6,18,468 tonnes (57 per cent) of palm oil (including CPO, RBD palmolein, crude olein, and crude palm kernel oil) during November 2020 as against 6,72,363 tonnes (61 per cent) in November 2019. The import share of soft oils such as soy oil, sunflower oil increased to 4,64,861 tonnes (43 per cent) in November as against 4,28,061 tonnes (39 per cent) in November 2019.
Though the import duty on CPO (crude palm oil) was reduced to 27.5 per cent from 37.5 per cent on November 27, the duty on soft oils remained unchanged. “This reduction of duty on CPO may encourage larger import of palm oil at the cost of soft oil import in the coming months,” he said in the statement.
Crude import at 99%
Since India has placed RBD palmolein under the restricted list and allowed import subject to licence, India is now importing around 99 per cent of crude edible oils. The import of crude edible oil increased to 10,73,329 tonnes (99 per cent) in November 2020 when compared with 9,78,015 tonnes (89 per cent) in November 2019.
A small parcel of 10,000 tonnes of refined oil (RBD palmolein) was imported during November 2020 as against 1,22,409 tonnes in November 2019.
Stock
As on December 1, there was a total stock of 14,31,000 tonnes of edible oil at various ports and in the pipeline. This included an estimated stock of 5,81,000 tonnes (CPO 2,60,000 tonnes, RBD palmolein 10,000 tonnes, degummed soybean oil 1,70,000 tonnes, crude sunflower oil 1,40,000 tonnes and rapeseed oil 1,000 tonnes) at various ports, and pipeline stock of 8,50,000 tonnes.
The total stock of edible oils was at 15,78,000 tonnes as on November 2020.
Non-edible oil
PFAD (palm fatty acid distillate) and palm stearin are the major non-edible oils being imported by the soap and ole-chemical industry.
The statement said the import of non-edible oils decreased by 27 per cent during November 2020. The country imported 19,570 tonnes of non-edible oils compared with 26,796 tonnes in November 2019. The reduction was due to higher domestic production and reduced demand, the statement said.
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