Increase in import of vegetable oil bumper, will all kinds of edible oil be cheaper?

During November-December 2022, vegetable oil imports increased by 30 percent to 31,11,669 tonnes as against 24,00,433 tonnes in the same period last year. Between November-December 2022, imports of refined palmolein and CPO (crude palm oil) increased sharply.

Token image

Refined Palmoline and Crude palm oil Indian food edible oil Imports including vegetable oil increased by 28 percent to 15.66 lakh tonnes in December. The Solvent Extractors Association of India (SEA) said in a statement that vegetable oil imports stood at 15,66,129 tonnes in December 2022 as against 12,26,686 tonnes a year ago.

According to the data, import of edible oil increased from 12,16,863 tonnes to 15,55,780 tonnes and import of non-edible oil increased to 10,349 tonnes from 9,832 tonnes. In the edible oil segment, refined (RBD) palmolein imports rose to 2,56,398 tonnes in December 2022 from just 24,000 tonnes in the year-ago period. Crude palm oil (CPO) imports rose to 8,43,849 tonnes from 5,28,143 tonnes. Vegetable oil runs from November of the year to October of the following year.

Imports were 82,267 tonnes during the same period last year.

During November-December 2022, vegetable oil imports increased by 30 percent to 31,11,669 tonnes as against 24,00,433 tonnes in the same period last year. Between November-December 2022, imports of refined palmolein and CPO (crude palm oil) increased sharply. According to the data, 4,58,646 tonnes of refined oil (all RBD Palmolein) was imported during November-December 2022, as against 82,267 tonnes in the same period last year.

26,25,894 tonnes of crude oil has been imported in the last two months

Similarly, crude oil was imported at 26,25,894 tonnes in the last two months as against 22,73,419 tonnes in November-December 2021, SEA said. As a result, the share of refined oil increased from three percent to 15 percent, while the share of crude oil decreased to 85 percent from 97 percent in the previous year. Indonesia and Malaysia are major suppliers of RBD palmolein and crude palm oil to India. The country imports soybean oil from Argentina and Brazil.

Oil’s share fell from 53 percent to 27 percent

India imports about 60 percent of its total domestic demand for edible oil. Imports of palm oil rose sharply from 1,105,582 tonnes to 22,50,924 tonnes in November-December 2022, SEA said, while imports of soft oil (light edible oil) fell to 12,50,104 tonnes in November-December 2022. ton Tons left. The share of palm oil increased from 47 percent to 73 percent and the share of soft oil decreased from 53 percent to 27 percent.

(provide language)

pkbnews

Hello Everyone, This News Website (PKBnews.in) is for You to give You True News update. Our aim is to make you all aware with thr true news and Knowledge About Everything. keep visiting this site to be updated.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button