Imports of edible oils decreased by 29 percent to 10.64 lakh tonnes in September
New Delhi| India’s imports of edible oils fell 29 per cent year-on-year to 10,64,499 tones in the month of September. This decline in edible oil imports has occurred due to low imports of crude and refined palm oil. Data related to this was released on Friday.
In the same month last year, imports of edible oils were 14,94,086 tones. Solvent Extractors Association of India (SEA) on Friday released import data of vegetable oils (both edible and non-edible) for September. Imports of non-edible oils declined from 57,940 tones to 22,990 tones on an annual basis in September.
According to the data, imports of vegetable oils declined by 30 per cent in September to 10,87,489 tons compared to 15,52,026 tons a year earlier.
Imports of crude sail oil in the edible oil category declined to 4,32,510 tones in September this year from 7,05,643 tones in the same month last year, SEA data showed. On the other hand imports of refined palm oil decreased from 1,28,954 tones to 84,279 tones. Imports of crude sunflower oil also declined from 3,00,732 tons to 1,52,803 tons.
SEA attributed the decline in imports to higher imports and decline in demand during July-August. In such a situation, stocks at ports increased. Moreover, importers have become cautious due to price fluctuations. Experts say that since there has been a decline in demand, traders are avoiding inviting new stock. At present, there is little hope of relief in prices due to decline in imports and increase in demand during festivals.
