India Sept Veg Oil Imports Down 2% Y/Y At 14.91 Lakh Tonnes - SEA

MUMBAI (Commoditiescontrol) – India's September vegetable oils import dropped 2% year-on-year at 14.91 lakh tonnes as against 15.19 lakh tonnes during the same period a year ago, said the Solvent Extractors’ Association of India (SEA) in a monthly release on Tuesday.

The imports of vegetable oils up to September of the current marketing year started from November 2017 stood at 137.70 lakh tonnes, down 3.5% from 142.73 lakh tonnes last year.

In spite of rupee depreciation, in August and September import of vegetable oil jumped, as pipelines were dried up due to lesser import during June & July ’18 months, coupled with improved parity in import of palm oil due to reduction in spread between palm oil and soft oils, resulted into higher import.

India’s total demand for edible oils during 2017-18 is estimated at 230 lakh tons. Monthly requirement is about 19.00 lakh tons and operate at 30 days stock against which currently holding stock over 25.53 lakh tons equal to 40 days requirements, said B.V Mehta, Executive Director, SEA.

India port stocks reached at around record high level as on October 1, 2018 at 25.53 lakh tonnes due to larger import of palm products during August & Sept., 2018, said Mehta.









(By Commoditiescontrol Bureau; +91-22-40015533)