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India’s edible oil imports rise by 8% to eight-month high of 11.62 lakh tonne in June: SEA

08 Jul 2020 Evaluate

Solvent Extractors Association (SEA) has said India’s edible oil imports rose by 8% to an eight-month high of 11.62 lakh tonne in June, as compared to imports of 10.71 lakh tonne of edible oils in the same month last year, but palm oil shipments showed a sharp decline. However, during the November-June period of the 2019-20 oil year, edible oil imports declined by 15% to 80.51 lakh tonne from 94.55 lakh tonne in the year-ago, mainly due fall in shipment of RBD Palmolein. The oil year runs from November to October. 

Of the total imports in June, palm oils comprised 5.62 lakh tonne while that of soft oils was 5.99 lakh tonnes. In fact, import of palm oils -- which comprise more than 60% of the total edible oil shipments -- showed a decline of 18.04% in June this year from 6.86 lakh tonne in the year-ago. Among palm oils, import of RBD Palmolein declined sharply to 3,000 tonne in June this year as against 2.55 lakh tonne in the year-ago.

However, import of crude palm oil (CPO) remained higher at 5.59 lakh tonne as against 4.21 lakh tonnes in the said period. The country also imported 10,334 tonne of crude palm kernel oil (CPKO) in the same period. Among soft oils, import of sunflower oil increased to 2.68 lakh tonne in June from 1.61 lakh tonne in the year-ago month, while that of soyabean oil increased to 3.31 lakh tonne from 2.22 lakh tonne in June 2019.

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