New Delhi: Palm oil imports to India declined by 14.59% in May. The total imports in last month stood at 4,39,173 tonne. India imported 5,14,022 tonne palm oils in May 2022. Data released by Solvent Extractors’ Association (SEA) revealed this.
India is the world’s leading vegetable oil buyer. The country’s total vegetable oil imports declined marginally to 10,58,263 tonne in May this year. It was at 10,61,416 tonne in May 2022. The share of palm oil is about 59% in the country’s total vegetable oil imports.
According to data, import of palm oil products increased sharply to 5,348,396 tonne during November-May period of 2022-23 oil year. It was at 3,739,783 tonne in the year-ago period. , Import of crude palm oil (CPO) declined to 3.48 lakh tonne in May this year from 4.09 lakh tonne in the year-ago period. Import of RBD palmolein declined to 85,205 tonne from 1 lakh tone and that of crude palm kernel oil (CPKO) rose to 5,850 tonne from 4,265 tonne in May.
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Among soft oils, import of soyabean oil declined to 3.18 lakh tonne in May this year as against 3.73 lakh tonne in the same period of 2022. Import of sunflower oil increased to 2.95 lakh tone. It was at1.18 lakh tonne in May 2022.
According to SEA, edible oils stock as on June 1 this year is estimated at 7.38 lakh tonne and about 22.03 lakh tonne is in the pipeline.
India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean from Argentina. Sunflower oil is imported from Ukraine and Russia.
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