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India's April Palm Oil Imports Fall 9.2% YoY To 5-Month Low: SEA

15 May 2019 2:34 pm
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MUMBAI Commoditiescontrol) - India's palm oil imports  declined by 9.2 percent to a 5-month low of 707,450 tonnes in April from 778,884 tonnes in the same month a year ago, the Solvent Extractors' Association of India (SEA) said in a statement on Wednesday.

Palm oil accounts for over 60 percent of the country's total vegetable oil imports.

India's total vegetable oil imports also showed a decline of 11 percent to 12.32 lakh tonnes in April from 13.86 lakh tonnes in the same month last year, the trade body said.

"In last one year, global prices of various edible oils have gone down in the range of 11 to 20 percent due to excess supply in the world market, but rupee has depreciated by nearly 6 percent in last one year," the SEA said.

Among palm oil products, import of crude palm oil declined to 4,49,762 tonnes during April this year from 5,56,822 tonnes in the same period last year, as per SEA data.

However, shipments of RBD palmolein rose marginally to 2,38,479 tonnes from 2,09,772 tonnes, while that of crude palm kernel oil (CPKO) increased to 19,209 tonnes from 12,290 tonnes.

Among soft oil, import of sunflower oil declined to 2,42,462 tonnes in April 2019 from 2,94,450 tonnes, while that of soyabean oil fell to 2,48,851 tonnes from 2,64,750 tonnes earlier.

India, the world's leading vegetable oil buyer, imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean oil, from Latin America. Sunflower oil is imported from Ukraine and Russia.

(By Commoditiescontrol Bureau) 

 

       
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