Vegetable Oil

Edible oil import up 39% in Nov on higher shipment of crude oils: SEA

India's edible oil import rose 38.5 per cent to 15.9 lakh tonne in November mainly due to sharp jump in shipments of crude sunflower oil and crude soyabean oil, according to industry data. On Thursday, Solvent Extractors' Association of India (SEA) released the data of import of vegetable oil (edible and non-edible ) for November. As per the data, import of vegetable oils during November, the first month of the 2024-25 oil marketing year, rose 40 per cent to 16,27,642 tonne compared to 11,60,590 tonne a year ago. Out of total vegetable oil import, India imported 15,90,301 tonne of edible oil in November as against 11,48,092 tonne in the same month last year. Import of non-edible oils increased to 37,341 tonne compared to 12,498 tonne in November 2023. Oil marketing year runs from November to October. In edible oil category, the import of RBD palmolein during November 2024 increased to 2,84,537 tonne compared to 1,71,069 tonne in the year-ago period. Import of crude sunflower oil

India's veg oil imports likely to decline further in 2024-25, says SEA

Weather has been favourable for Indian crops this year, resulting in higher production of soybean and ground nuts, Mehta said, adding that rapeseed output was also expected to rise

Vegetable oil imports up 18% at 1.55 million tonnes in June: SEA data

Import of vegetable oils, comprising edible and non-edible oils, rose 18 per cent in June to 15.5 lakh tonnes on higher imports of crude palm oil and crude sunflower oil, according to trade data. Solvent Extractors' Association of India (SEA) data showed that import of vegetable oils during June 2024 stood at 15,50,659 tonnes compared to 13,14,476 tonnes in the year-ago period. Edible oils import increased in June to 15,27,481 tonnes from 13,11,576 tonnes in the same month last year. However, the imports of non-edible oils jumped to 23,178 tonnes from 2,300 tonnes during the period under review. During the first eight months of 2023-24 oil year ending October, the imports of vegetable oils fell 2 per cent to 1,02,29,106 tonnes compared to 1,04,83,120 tonnes in the corresponding period of the previous year. SEA data showed that imports of refined oil declined 2 per cent to 13,81,818 tonnes during November 2023-June 2024 period of 2023-24 oil year from 14,03,581 tonnes in the ...

Govt grants duty concessions for corn, vegetable oil imports under TRQ

India is the world's biggest importer of vegetable oils such as palm oil, soyoil and sunflower oil and the top producer of milk

Vegetable oil imports dwindle 13% in Feb to 975,000 tonnes, says SEA

India's vegetable oils import fell 13 per cent year-on-year in February to nearly 9.75 lakh tonne, according to industry data. In a statement on Wednesday, Solvent Extractors' Association of India (SEA) said the import of vegetable oils (comprising edible oils and non-edible oils) during February stood at 9,74,85 tonne as compared to 11,14,481 tonne in the year-ago period. Out of the total imports, the edible oil shipments fell to 9,67,852 tonne last month from 10,98,475 tonne in February 2023. Non-edible oils imports too fell to 7,000 tonne from 16,006 tonne in the year-ago period. During November 2023-February 2024 period, the overall import of vegetable oils declined 21 per cent to 46,47,963 tonne from 58,87,900 tonne in the corresponding period of the previous oil year. Oil marketing year runs from November to October. Edible oils import fell to 46,15,551 tonne during the first four months of 2023-24 oil year from 58,44,765 tonne in the year-ago period. Non-edible oils impor

India sees 28% fall in vegetable oil imports to 1.2 mn tonnes in Jan: SEA

The country's vegetable oil imports declined by 28 per cent to 12 lakh tonnes in January from a year-ago period, industry body SEA said on Monday. Vegetable oil imports stood at 16.61 lakh tonnes in January 2023. India is a leading vegetable oil buyer in the world. In the first quarter (November-January) of the current oil year, total imports dropped 23 per cent to 36.73 lakh tonnes as against 47.73 lakh tonnes in the same quarter of previous year. According to the Solvent Extractors Association of India (SEA), about 7,82,983 tonnes of palm oil and 4,08,938 tonnes of soft oil were imported in January this year out of total vegetables oils. As on February 1, total edible oils stock stood at 26.49 lakh tonnes, down 7.64 per cent from that of the year-ago period, it said in a statement. SEA said prices of edible oils, which are currently low, may go up this year on lower production, global economic issues and supply constraints. The availability of palm oil for edible oil requireme

Govt seeks to boost oilseed output to cut expensive vegetable oil imports

India, the world's biggest vegetable oil importer, spent a record $20.8 billion on its edible oil purchases in the fiscal year to March 2023

Palm oil rebounds on robust Indian demand and stronger crude prices

India's palm oil imports in December rose to their highest in four months as purchases of refined palmolein surged because of competitive prices

India's vegetable oil imports up 16% at 16.71 mn tonnes in 2022-23 oil year

India's vegetable oils import rose 16 per cent to 167.1 lakh tonnes in the current oil year that ended in October 2023, driven by lower duty on certain edible oils, industry body SEA said on Monday. The country had imported 144.1 lakh tonnes of vegetable oils in the previous 2021-22 oil year (November-October). Out of the total vegetable oils, much of the imports were edible oils at 164.7 lakh tonnes, while non-edible oils were only 2.4 lakh tonnes during 2022-23 oil year. India is a leading vegetable oil buyer in the world. According to Mumbai-based Solvent Extractors Association of India (SEA), "Import of edible oils during the 2022-23 oil year has surged to 164.7 lakh tonnes. This increase of 24.4 lakh tonnes from previous year is driven by the current low of 5.5 per cent duty on crude palm oil, soybean oil and sunflower oil." This influx of imports has transformed India into a prime destination for excess oil supplies, it said in a statement. Notably, RBD Palmolein imports ..

India's vegetable oil imports up 33% to 1.86 mn tonne in Aug: SEA

India's vegetable oil imports rose 33 per cent year-on- year to 18.66 lakh tonne in August due to lower duties and a revival of demand after a fall in domestic rates, according to industry body SEA. India, the world's leading vegetable oil buyer, imported 14.01 lakh tonne of vegetable oil in August 2022. The country's total vegetable oil imports during the first ten months of the 2022-23 oil year (November-October) increased by 24 per cent to 141.21 lakh tonne, when compared to 113.76 lakh tonne in the year-ago period. According to the Solvent Extractors' Association (SEA), edible oils comprised 18.52 lakh tonne, while non-edible oils at 14,008, out of total vegetable oil shipments undertaken in August. In total, palm oil imports reached 11.28 lakh tonne in August. "Looking to import of edible oils in first ten months at 141.21 lakh tons, it will not be surprised to see a record import of over 160 to 165 lakh tons during current oil year ending October 2023," it said in a ...

Palm oil futures edges up on supply concerns amid India festive demand

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange strengthened 7 ringgit, or 0.18% to 3,937 ringgit ($849.22) per metric ton by the midday break

Vegetable oil July imports up 46% to 1.7 mn tn due to palm oil shipments

India's vegetable oil imports increased by 46 per cent to 17.71 lakh tonnes in July this year on rise in palm oil shipments, industry body SEA said on Monday. The country's vegetable oil imports stood at 12.14 lakh tonnes in the year-ago period, it said. Similarly, during the first nine months of the 2022-23 oil year (November-October), the overall import of vegetable oils increased by 23 per cent to 122.54 lakh tonnes from 99.74 lakh tonnes in the same period last year. Vegetable oil imports comprise both edible and non-edible oils. According to the Solvent Extractors Association (SEA), edible oil imports rose 46 per cent to 17.55 lakh tonnes during July this year, when compared to 12.05 lakh tonnes in the year-ago period. Non-edible oil imports too increased to 15,999 tonnes from 9,069 tonnes in the said period. With sharp reduction in domestic prices of edible oils, "demand has returned which is evident from the rising import in spite of better domestic availability reflecting

Vegetable oil imports up 21% to 8.1 MT in 6 months: Industry body SEA

India's vegetable oil imports rose by 21 per cent to 81.10 lakh tonnes in the first six months of the current oil year, driven by increased shipments of refined palm oil which is a cause of concern, industry body SEA said on Friday. Vegetable oil imports stood at 67.07 lakh tonne in the same period of the 2021-22 oil year. India is the world's leading vegetable oil buyer. Oil year runs from November to October. In fact, in April vegetable oil imports remained lower by 10 per cent at 10.50 lakh tonne when compared to the previous month's 11.72 lakh tonne. According to the Solvent Extractors Association of India (SEA), "Increase in import of RBD palmolein in the first six months of the current oil year reported at 11.01 lakh tonne is nearly 22 per cent of the total palm oil import, depriving domestic industry for capacity utilization." The palm oil refining industry in the country is heavily suffering from very low capacity utilization due to excessive import of RBD palmolein, thus

India to allow duty free imports of sunflower, soyoil until June

Earlier this year, the world's biggest importer of vegetable oils scrapped a duty-free imports quota of 2 million tonnes of crude sunflower oil and soyoil for the this fiscal started on April 1

For a veg thali of Rs 100, Indians paid Rs 109 in 2022; Rs 132 for non-veg

The rise was sharper in the case of non-veg thali because chicken prices rose 55% between April and December

Food prices at 9-month low as slow staples demand offset war disruptions

The continued decline offers some relief to households grappling with a cost-of-living crunch. The index is down for seventh month, its longest slump in 9 years, and food inflation has begun to slow

India's palm oil imports rise marginally to 590,000 tonnes in June: SEA

Total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago period.

India expands biofuel tax benefits for ethanol and vegetable oils

India has expanded the excise duty exemption for biofuels to encourage the blending of higher proportions of ethanol and components of vegetable oil with gasoline and diesel, a government order said.

India's March palm oil imports jump as Ukraine sunoil supplies halt

In March, 539,793 tonnes of palm oil landed in India, up from 454,794 tonnes in February, the Solvent Extractors' Association of India (SEA) said in a statement

Industry body appeals to members not to hoard vegetable oil

In view of volatility in global oil markets due to Ukraine war, Solvent Extractors Association of India appealed to strictly adhere to stock limit prescribed under storage control order