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Palm Oil Imports Surge To 7,01,795 Ton In April: SEA

Malaysia's share in export of CPO has increased to 19.5 lakh tonne from 5.01 lakh tonne, while Indonesia's share reduced to 16.9 lakh tonne from 23.1 lakh tonne during the same period of previous year.

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India's import of palm oils surged in April to 7,01,795 tonne as imports of sunflower oil and soyoil declined due to higher prices, industry body SEA said on Wednesday.

The country imported 3,80,961 tonne of palm oils during April 2020, the Solvent Extractors' Association of India (SEA) said in a statement.

The imports of soyoil declined to 1,44,020 tonne and sunflower oil dropped to 1,84,097 tonnes during the month, SEA added.

During November 2020-April 2021, Malaysia's share in export of CPO has increased to 19.5 lakh tonne from 5.01 lakh tonne, while Indonesia's share reduced to 16.9 lakh tonne from 23.1 lakh tonne during the same period of previous year.

Overall, the import of vegetable oils during April was reported at 10,53,347 tonne compared to 7,98,715 tonne in the same month of 2020, consisting of 10,29,912 tonne of edible oils and 23,435 tonne of non-edible oils.

Import during April was up by 7 per cent compared to March 2021 due to lower stock in pipeline and lesser import during February.

The overall import of vegetable oils during November 2020 to April 2021 is reported at 64,28,350 tonne compared to 63,17,928 tonne, up by 1.7 per cent, the statement added.

India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soybean oil from Argentina. Sunflower oil is imported from Ukraine and Russia. 

(PTI)


Tags assigned to this article:
palm oil sunflower oil imports oil prices oil demand malaysia