India's import of vegetable oils up by 18%

As per the latest data released by the Solvent Extractors’ Association of India (SEA), import of vegetable oils (edible & non-edible) during first eleven months of current oil year indicates 17.80% increase in import. Import during September 2012 is reported at 993,912 tonnes compared to 912,341 tonnes in September 2011, consisting of 976,417 tonnes of edible oils and 17,495 tonnes of non-edible oils i.e. up by 8.94%. The overall import of vegetable oils during November 2011 to September 2012 is reported at 9,156,457 tonnes compared to 7,773,184 tonnes i.e. up by 17.80%.

Surged in Import of Sunflower Oil:

During Nov., 2011 to Sept., 2012 import of sunflower oil is reported at 1,049,181 tonnes compared to 739,173 tonnes during the same period of last year. Sunflower oil is a major contributor in meeting demand for soft oil, as sunflower oil prices have been attractive compared to soybean oil. Currently the premium on sunflower oil over soybean oil is just US$ 11 per ton and also sunflower oil is preferred oil by housewives in India. Also, India has started importing canola oil and bought about 90,000 tonnes during last 8 months compared to 3,601 during same period of last year, mainly due to lesser local crushing of rapeseed due to disparity.

Stock Position at Port and in Pipelines:-

Current stock of edible oils as on 1st October, 2012 at various ports is estimated at 880,000 tonnes (CPO 510,000 tonnes, RBD Palmolein 110,000 tonnes, Degummed Soybean Oil 130,000 tonnes, Crude Sunflower Oil 115,000 tonnes and Canola Rape Oil 15,000 tonnes) and about 570,000 tonnes in pipelines. Total stock, both at port and in pipelines is decreased by 100,000 to 1,450,000 tonnes due to reduced local production and festival demand compared to last month.

Import of Non-edible oils during September 2012 is reported at 17,495 tonnes compared to 33,472 tonnes during the same period last year. The overall import of non-edible oil during Nov., 2011 to Sept., 2012 is reported at 193,104 tonnes compared to 279,524 tonnes during the same period of last year i.e. down by 31%.