India's Edible Oil Imports Decline 1.6% In First Nine Months Of This Marketing Year: SEA
Imports of cooking oils stood at 1,19,35,227 tonne during November 2023-July 2024 period.
India's edible oil imports declined marginally by 1.6% to 119.35 lakh tonne in the first nine months of 2023-24 marketing year ending October, according to industry body SEA.
Imports of cooking oils stood at 1,19,35,227 tonne during November 2023-July 2024 period as against 1,21,22,711 tonne in the corresponding period of 2022-23 marketing year.
Oil marketing year runs from November to October. More than 50% of India's cooking oils demand is met through imports.
Solvent Extractors' Association of India data showed that imports of non-edible oils, however, increased to 1,88,955 tonne from 1,32,242 tonne.
The total import of vegetable oils (edible and non-edible oils) during the first nine months of the current oil year stood at 121.24 lakh tonne, down 1% compared to 122.55 lakh tonne in the year-ago period.
In the first nine months of the 2023-24 oil year (Nov. 2023-July 2024), India imported 15,18,671 tonne of refined edible oil, a 7% decrease from the 16,40,960 tonne imported during the same period of preceding oil year. Imports of crude edible oils fell 1% to 1,04,16,556 tonne from 1,04,81,751 tonne.
During the first nine months of the 2023-24 oil year, the total palm oil imports decreased by 4% to 68,45,097 tonne, compared to 71,17,834 tonne in the year-ago period. In contrast, soft oil imports increased to 50,90,131 tonne from 50,04,877 tonne.
Indonesia and Malaysia are the primary suppliers of RBD Palmolein and crude palm oil to India. Crude soyabean degummed oil is primarily imported from Argentina and Brazil while crude sunflower oil from Russia, Romania, Ukraine and Argentina.
