India imported 1.55 million tonnes of edible oils in the month of December, a 22 percent increase on an annual basis, data from the Solvent Extractors’ Association of India showed. Overall, the import of vegetable oils, including edible oils, during December 2022 is reported at 1.56 million tonnes compared to 1.22 million tonnes in the same month of 2021, which is an increase of about 28 per cent.
The overall import of vegetable oils during the first two months of oil marketing year 2022-23 (November-December) is reported at 3.1 million tonnes compared to 2.4 million tonnes during the same period of last year, up by 30 per cent, data showed . India is the world’s second-largest consumer and number one vegetable oil importer, and it meets around 60 per cent of its needs through imports. Self-reliance or ‘Atma Nirbharta’ in edible oils is the need of the hour for India and it is in the public interest for the welfare of farmers and consumers.
“During November to December 2022, palm oil import increased sharply to 2,250,924 tons from 1,105,582 tons, while soft oil import has decreased to 833,616 tons from 1,250,104 tons in Nov-Dec, 2021 mainly due to a larger spread between palm oil and soft oil, encouraged larger import of palm products,” SEA said. The share of palm oil increased to 73 per cent from 47 per cent while the soft oils decreased to 27 per cent from 53 per cent.
Meanwhile, the total stocks of edible oils as on January 1, 2023, at various ports was estimated at 892,000 tonnes (crude palm oil 497,000 tonnes, RBD Palmolein 195,000 tonnes, degummed soybean oil 1,00,000 tonnes and crude sunflower oil 100,000 tonnes, with another pipeline stock of 2.3 million tonnes, SEA data showed.(ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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