India’s vegetable oil imports declined by 32 percent to 8.91 lakh tonnes compared to a year ago in April. The Industries Body Solvent Extractors Association (SEA) gave this information on Wednesday. According to PTI news, the SEA says that the consignment of both palm and refined oil declined. The import of vegetable oil, including food and inherited oils, was 13.18 lakh tonnes in the period of a year ago. India had a stock of 13.51 lakh tonnes of edible oil till 1 May 1, the world’s largest edible oil consumer and importer.
Import in the last three months at a very low level
According to the news, the SEA said in a statement that with the increase in crushing of mustard in the country, imports have been at a very low level in the last three months due to lack of palm oil demand. Import of refined edible oils from Nepal, which is estimated monthly to 60,000 to 70,000 tonnes, also affected overall imports and stock status. For the first six months of 2024–25 oil years (November-October), the total vegetable oil imports declined from 70.69 lakh tonnes of a year ago to 65.02 lakh tonnes.
How much upset in which oil imports
Palm oil imports declined by 53 percent to 3. 21 lakh tonnes in April, which was 6. 84 lakh tonnes a year ago, while the consignment of crude palm oil declined by 55 percent to 2. 41 lakh tonnes. In soft oils, the import of sunflower oil declined by 23.8 percent to 1.80 million tonnes, while the import of soybean oil declined by 20.37 percent to 3. 60 million tonnes.
In the last six months, the stake of palm oil declined from 60 percent to 42 percent, while the stake of soft oils increased from 40 percent to 58 percent. Indonesia and Malaysia are India’s leading Palm oil suppliers, while Argentina, Brazil and Russia supply soybean oil. Russia and Ukraine are the main suppliers of sunflower oil.
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