Vegetable oil imports down 6% at 11.96 lakh tonnes in January 2020

NEW DELHI: Vegetable oil imports fell 6 per cent to 11.96 lakh tonnes in January as a consequence of restriction on inward shipments of refined palm oil, an business physique mentioned on Thursday.
Import of vegetable oils (comprising edible and non-edible oils) throughout final month is reported at 11,95,812 tonnes in comparison with 12,75,259 tonnes in January 2019, Solvent Extractors’ Affiliation of India (SEA) mentioned in an announcement.
Edible oil imports fell to 11,57,123 tonnes from 12,10,603 tonnes, whereas shipments of non-edible imports declined to 38,689 tonnes from 64,656 items through the interval below evaluate, the info confirmed.
Through the first three months of 2019-20 oil advertising yr, the general import of vegetable oils is down 5 per cent at 34,51,313 tonnes in comparison with 36,20,316 tonnes within the corresponding interval of the earlier yr. Oil yr runs from November to October.
“Director common of international commerce (DGFT), ministry of commerce & business, issued notification dated January 8, 2019, inserting import of RBD Palmolein and Palm Oil below ‘restricted listing’ to control extreme import in to India. The import will now be topic to license to be issued by DGFT,” the assertion mentioned.
Throughout first quarter of present oil yr, import of refined oil (primarily RBD palmolein) decreased to 2,66,859 tonnes from 4,06,799 tonnes in the identical interval of final yr. Nonetheless, import of crude oil elevated marginally at 30,94,068 tonnes in comparison with 30,22,951 tonnes throughout the identical interval of final yr.
“Throughout November’19-January’20, palm oil import has decreased to 20,04,657 tonnes (60 per cent) from 23,18,763 tonnes (68 per cent) throughout the identical interval of final yr. Nonetheless, gentle oils (sunflower, soyabean and rapeseed) import elevated to 13,56,270 tonnes (40 per cent) from 11,10,987 tonnes (32 per cent) throughout the identical interval of final yr primarily as a consequence of discount in unfold between palm oil and gentle oils, makes gentle oils import extra viable,” the assertion mentioned.

Source link