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Indian palm oil shipments dip by 9.17% in April: SEA

16 May 2019 Evaluate

Solvent Extractors Association (SEA) has reported that India's palm oil shipments dipped by 9.17% to 7,07,450 tonnes in April 2019 compared to last year same period's 7,78,884 tonnes. More than 60% of the country's total vegetable oil shipments accounts to palm oil.

As per report, total vegetable shipments by India contracted by 11% to 12.32 lakh tonnes in April 2019, as against 13.86 lakh tonnes in the same month last year. In last one year, overseas prices of various edible oils have gone down in the range of 11 to 20% due to excess supply in the world market.

Among palm oil products, import of crude palm oil decreased to 4,49,762 tonnes during April 2019 as against last year same month's 5,56,822 tonnes. However, shipments of RBD palmolein rose marginally to 2,38,479 tonnes from 2,09,772 tonnes, while that of crude palm kernel oil (CPKO) increased to 19,209 tonnes from 12,290 tonnes.

India, the world's leading vegetable oil importer, buys palm oil majorly from Indonesia and Malaysia.

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