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Vegetable oils imports drop 0.5% in November: SEA

The stock of edible oils as on 1st December 2019 at various ports is estimated at 881,000 tons.

, ET Bureau|
Dec 13, 2019, 03.19 PM IST
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A release issued by the SEA said that the imposition of 5 per cent safeguard duty on refined palm oil from Malaysia has reduced its import drastically.
Import of vegetable oils, both edible and non-edible, has dropped by 0.5 per cent in November 2019 at 1,128,220 tons compared to 1,133,893 tons in November last year, according to data compiled by the Solvent Extractors' Association of India (SEA).

A release issued by the SEA said that the imposition of 5 per cent safeguard duty on refined palm oil from Malaysia, which has been in effect since 4th Sept 2019, has reduced its import drastically. In August, the import of RBD Palmolein was 257,000 tons and 264,000 tons in September. The import reduced to 118,000 tons and 125,000 tons in October and November, respectively.

The stock of edible oils as on 1st December 2019 at various ports is estimated at 881,000 tons. However, pipeline stock increased to 630,000 tons on the same date, as compared to 590,000 tons on 1st November.

During November 2019, palm oil imports had decreased to 671,863 tons from 691,827 tons in November last year. However, soft oils import increased to 428,061 tons from 381,526 tons in November 2018.

During November 2019, import of refined oil (RBD Palmolein) increased to 124,909 tons from 108,911 tons in November 2018. Also, import of crude oil increased to 975,015 tons from 964,442 tons in November 2018.

Import of non-edible oils during November 2019 is reported at only 30,796 tons, compared to 60,450 tons during the same period last year.

Also Read

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Vegetable oils imports rise 5% to 15,86,514 tonnes in August

Vegetable oils imports fall 11% in April: SEA

Vegetable oil imports fall 13% in September; Malaysian shipments drop significantly: SEA

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