SEA of India Estimates 19% Decline In January Vegetable Oil Imports

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As per the latest data of Import of vegetable oils during January 2017 is reported at 1,024,859 tons compared to 1,258,054 tons in January 2016, consisting of 1,008,085 tons of edible oils and 16,774 tons of non-edible oils i.e. down by 19%. The overall import of vegetable oils during first three months of current oil year 2016-17, Nov.’16 to Jan.’17 is reported at 3,410,008 tons compared to 4,016,391 tons i.e. down by 15%.

 The stock of edible oils as on 1st February, 2017 at various ports is estimated at 642,000 tons (CPO 220,000 tons, RBD Palmolein 150,000 tons, Degummed Soybean Oil 180,000 tons, Crude Sunflower Oil 85,000 tons and 7,000 tons of Rapeseed (Canola) Oil) and about 1,088,000 tons in pipelines. Total stock at ports and in pipelines decreased to 1,730,000 tons from 1,845,000 tons in Jan., 2017. The overall stock as on 1st Feb., 2017 has decreased by 115,000 tons compared to 1st Jan., 2017,. India’s monthly requirement is about 16.50 lakh tons and operate at 30 days stock against which currently holding stock over 17.30 lakh tons equal to 32 days requirements.

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