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Imports of vegetable oils fell to 13% nearly 9.12 lakh tonnes during April – Solvent Extractors’ Association

Business News. Imports of vegetable oils, comprising edible and non-edible oils, fell 13 per cent to nearly 9.12 lakh tonnes during April, according to industry data.
The Solvent Extractors’ Association of India (SEA) said in a statement that import of vegetable oils stood at 9,11,846 tonnes in April 2022 compared to 10,53,347 tonnes in April 2021.
The import of edible oils fell to 9,00,085 tonnes from 10,29,912 tonnes, while shipments of non-edible oils declined to 11,761 tonnes from 23,435 tonnes.

Oil marketing year runs from November to October.

Imports of vegetable oils during first six months of this oil marketing year (November 2021 to April 2022) rose 4 per cent to 67,07,574 tonnes. It was 64,28,350 tonnes in the corresponding period of the previous marketing year.

“Indonesia has banned export of palm oil with effect from April 28, 2022 which has queered the pitch and make life difficult for hapless consumer across the world,” SEA said in a statement.

India imports about 6,00,000-6,50,000 tonnes of palm oil per month from Indonesia, Malaysia and Thailand and other countries.

Out of which, Indonesia supplies about 3,00,000 tonnes, mainly RBD Palmolein, and similar quantity arrives from Malaysia and the remaining 10 per cent from Thailand and other countries.

“It is expected, Indonesia may lift the ban before the end of May, however the situation will turn ugly if Indonesia continues to ban the export of palm oil products as enough supply from other origins is not available,” SEA said.

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