Import of vegetable oils during February 2017 has been pegged at 12.7 lakh tonnes (LT), up by 17% as compared to 10.82 LT in February 2016. According to Solvent Extractors’ Association of India, the total import consists of 12.34 LT of edible oils and 36,188 tonnes of non-edible oils. The overall import of vegetable oils during first four months of current oil year 2016-17 (November’16 to February’17) is reported at 46.8 LT compared to 50.98 LT.
The stock of edible oils as on March 1, 2017 at various ports is estimated at 775,000 tonnes (CPO 290,000 tonnes, RBD Palmolein 160,000 tonnes, Degummed Soybean Oil 180,000 tonnes, Crude Sunflower Oil 130,000 tonnes and 15,000 tonnes of Rapeseed (Canola) Oil) and about 1,190,000 tonnes in pipelines.
During November’16 - February’17, import of refined oil (RBD Palmolein) has further increased to 916,438 tonnes from 791,352 tonnes in the same period of last year, while import of crude oil decreased to 3,656,061 tonnes from 4,271,590 tonnes during the same period of last year.