India’s edible oil imports down 2% in September


India’s year-on-year imports of edible oil in September 2018 were down by 2 per cent, while the overall imports during the 11 months from November 2017 to September 2018 were down by 3.5 per cent , said Solvent Extractor Association (SEA).

According to a SEA release: “Import of vegetable oils during September 2018 is reported at 1,491,174 tons compared to 1,519,277 tons in September 2017 consisting 1,422,003 tons of edible oils and 69,171 tons of non-edible oils, down by 2 per cent. Th ..

In last one year, edible oil prices have dipped up to 11 to 25 per cent in international market due to excess supply and reduced demand from India. The prices have been further affected by the rupee depreciation that has declined nearly 15 per cent.

During November 17- September 18, overall Palm Oil import has decreased to 7,947,472 tons from 8,546,059 tons, while Soft Oils import remained at same level and reported 5,394,614 tons from 5,397,244 tons during the same period of last yea ..

India’s total demand for edible oils during 2017-18 is estimated at 230 lakh tons. Monthly requirement is about 19 lakh tons and operate at 30 days stock against which currently holding stock of over 25.53 lakh tons equal to 40 days requirements. Stock has increased due to larger import of palm products during August & Sept., 2018.