sea: Vegetable oil imports up 13 computer to over 11 lakh tonnes in March: SEA

Vegetable oil imports rose 13 per cent in March to over 11 lakh tonnes on increased shipments of edible oil, in line with trade information. Import of vegetable oils (comprising edible oil and non-edible oil) in March 2022 stood at 11,04,570 tonnes as in comparison with 9,80,243 tonnes in March 2021, the Solvent Extractors’ Affiliation of India, stated.

Whereas edible oil imports elevated to 10,51,698 tonnes in March 2022 from 9,57,633 tonnes within the year-ago interval, the imports of non-edible oil rose to 52,872 tonnes from 22,610 tonnes in the course of the interval below evaluation.

The general import of vegetable oils throughout first 5 months of oil 12 months 2021-22, November 2021-March 2022, reported at 57,95,728 tonnes in comparison with 53,75,003 tonnes throughout the identical interval of final 12 months.

Throughout the first 5 months of 2021-22 oil 12 months, the import of refined edible oil jumped sharply to 7,71,268 tonnes from 24,101 tonnes within the corresponding interval of the earlier 12 months. The imports of crude edible oil fell to 48,71,650 tonnes from 52,16,225 tonnes.

“Throughout November 2021-March 2022, palm oil import has decreased to 26,53,253 tonnes from 30,90,559 tonnes in November 2020-March 2021, whereas delicate oil import has elevated to 29,89,665 tonnes from 21,49,767 tonnes in November 2020-March 2021, primarily on account of increased import of soybean oil,” SEA stated.

The affiliation stated over the past month, 2,12,000 tonnes of sunflower oil arrived as vessels, which left earlier than battle between Russia and Ukraine arrived in India. The imports got here primarily from Ukraine (1,27,000 tonnes), Russia (73,500 tonnes) and Argentina (11,900 tonnes).

“Nevertheless in April ’22 as no cargo from Ukraine came about, sunflower oil import might fall to almost 80,000 tonnes, primarily arriving from Russia and Argentina solely,” it stated.

Excessive costs of sunflower oil in worldwide market at USD 2,200 per tonne and lesser availability has resulted in decrease demand and consumption of sunflower oil.

“This shortfall partially being changed by different edible oils like palmolein, soybean oil, groundnut oil in South India and by refined mustard oil and ricebran oil in North India. Additionally over the past one month, costs of soya oil, sunflower oil, palm oil and different edible oil declined offering some reduction to shopper,” SEA stated.
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