Import of vegetable oils during February 2015 is reported at 866,167 tons, up by 50% compared to 578,975 tons in February 2014, as per data compiled by the Solvent Extractors’ Association of India. These 866,167 tons consists of 845,484 tons of edible oils and 20,683 tons of non-edible oils. The overall import of vegetable oils during November’14 to February’15 is reported at 4,291,153 tons compared to 3,496,807 tons i.e. up by 23%.
In last four months, due to nil export duty on palm products by Indonesia and Malaysia and reduced demand of CPO for bio diesel, pushed the export of palm products to India to reduce burgeoning stock held by the exporting countries. Also, due to high prices of soybean and lesser realization for oil and soybean meal in export market, resulted in lower crushing and lesser oil availability in domestic market.
Import of Non-edible oils during November’14 to February’15 is reported at 92,278 tons compared to 76,075 tons during the same period last year, up by 21%. PFAD, PKFAD, CPKO & RBD Palm Stearin are the major import of non-edible oils.