India imported a record volume of palm oil in September, the highest in a month since the country began shipping the commodity in 1966. There was also a record shipment of edible oils in India. September 2021 according to an industry body.
According to the latest data released by the Solvent Extractors Association of India (SEA), India imported 12.62 lakh ton of palm oil (including RBD palmolein, crude palm oil (CPO), crude palm kernel oil in September 2021 compared to 7.5 lakh ton in August 2021, registering a growth of 68.24%.
According to BV Mehta, executive director, palm oil imports at 12.62 lakh tonnes are the highest monthly since the country started importing it. “The import of edible oils in September 2021 set a new record shipment of 16.98 lakh ton in a single month. Earlier in October 2015, India imported 16.51 lakh tonnes, ”he said.
There was a significant jump in the import of RBD palmolein from 1.87 lakh ton in August 2021 to 3.97 lakh ton in September 2021. India imported 8.44 lakh ton of crude palm oil ( CPO) in September 2021 against 5.50 lakh ton in August 2021 and 19,896 tons of CPKO (crude palm kernel oil). Imports of palmolien RBD also increased sharply in August and September 2021 due to the relaxation of the import policy of palmolein RBD from July 1.
Global import of RBD palmolein jumped more than 50% and reached 6.28 lakh ton in the first 11 months of the 2020-21 oil year (November-October) from 4.16 lakh ton during the corresponding period of the previous oil year. said. The import of RBD palmolein and RBD palm oil has been moved from the “restricted” category to the “free” category with effect from July 1 to December 31.
Indonesia and Malaysia are the main suppliers of RBD palmolein and CPO to India. Between November and September 2020-21, Malaysia exported 32.66 lakh ton of CPO and 1.82 lakh ton of RBD palmolein, followed by Indonesia 4.35 lakh ton of RBD palmolein and 32.31 lakh ton of CPO to India. The overall import of vegetable oils in November-September 2020-21 amounted to 124.70 lakh ton compared to 122.57 lakh ton in November-September 2019-20, an increase of 2%. The import of palm oil increased to 76.27 lakh ton in November-September 2020-21 from 64.40 lakh ton in the corresponding period of the 2019-20 oil year. Mehta attributed this to the lower service advantage over mild oils.
The global share of palm oil in total edible oil imports increased to 63% during the period November-September 2020-21 from 54% during the corresponding period of the previous olive year.
Sweet oil imports decreased to 44.58 lakh tonnes from November to September 2020-21 from 55.09 lakh tonnes in the corresponding period of 2019-20. Mehta attributed this to the high prices of soybean and sunflower oils in the international market during the period. Shipment of crude rapeseed oil restarted to India from August due to the high price of domestic rapeseed oil (mustard oil). India imported nearly 12,000 tonnes and 20,215 tonnes of rapeseed oil in August and September, respectively.
He said shipping is expected to increase over the next two or three months to fill the mustard oil shortage.