MUMBAI (Comoditiescontrol)- As per latest release of Solvent Extraction of Indian (SEA), Vegetable Oils (edible & non-edible) imports during December 2018 is estimated higher by 11% at 1,211,164 tons compared to 1,088,783 tons in December 2017. It consists 1,145,794 tons of edible oils and 65,370 tons of non-edible oils. The overall import of vegetable oils during November to December 2018 is reported at 2,345,057 tons compared to 2,337,593 tons.
Stock Position at Port & in Pipeline
The stock of edible oils as on 1st Jan’19 at various ports is estimated at 805,000 tons (CPO 430,000 tons, RBD Palmolein 150,000 tons, Degummed Soybean Oil 80,000 tons and Crude Sunflower Oil 145,000 tons to and about 12,20,000 tons in pipelines. Total stock at ports and in pipelines is reported at 2,025,000 tons, decreased by 166,000 tons from 2,191,000 tons as on 1st December, 2018. India’s monthly requirement is about 19.0 lakh tons and operate at 30 days stock against which currently holding stock over 20.25 lakh tons equal to 32 days requirements.
Import of Refined & Crude Oil Ratio
During Dec’18, share of crude oil was observed higher at 90% vs. 88% previous month. Overall, In Nov.-Dec 2018, Imports of refined oil (RBD Palmolein) decreased to 239,370 tons from 254,286 tons in same period of last year. Also, Imports of crude oil decreased and reported at 1,979,777 tons compared to 2,029,318 tons during the same period of last year.
Imports of Palm oil and Soft Oil
During Nov.-Dec.’18, Palm Oil import has increased to 1,503,527 tons from 1,439,825 tons during the same period of last year, however Soft Oils import decreased to 715,620 tons from 843,779 tons during the same period of last year. The duty changes will promote Indian import demand for palm oil at the expense of soft oils. The preferential rate will put Malaysian in a position to gain market share from Indonesia.