Palm Oil Imports Surge 29% from Nov '22 to Sept '23, Soft Oils Share Shrinks

Mumbai, 13 Oct (Commoditiescontrol): Palm oil imports experienced a significant surge during the period spanning from November 2022 to September 2023, totaling 9,080,986 tons. This represents a substantial increase compared to the 7,028,032 tons imported during the same period the previous year. Palm oil's share of the import market expanded from 55% to 59%, driven by favorable price parity.

Additionally, soft oils imports showed a modest increase, with sunflower and soybean oils experiencing a notable uptick in shipments over the last six months. Cumulatively, imports for the first eleven months of the current oil year reached 6,387,926 tons, a notable increase from the 5,635,813 tons recorded the previous year. As a result, the share of soft oils in the market decreased from 45% to 41% during this period.



(By Commoditiescontrol Bureau; +91-9820130172)