COMMODITY
Indian Palm oil imports decrease by 8% in December: SEA
Jan-17-2020

Industry body Solvent Extractors Association (SEA) has said that India, the world's leading vegetable oil buyer, reported fall in its palm oil imports by 8.64 to 7,41,490 tonnes in December 2019, compared to last year same month's 8,11,700 tonnes. Besides, total vegetable oil imports dipped to 11.28 lakh tonne in December 2019, as against last year same month's 12.11 lakh tonne.

Among palm oil products, import of crude palm oil (CPO) shrunk to 6,31,824 tonne in December 2019, from 6,70,244 tonne in the year-ago period. The shipment of RBD palmolein dropped to 94,816 tonne, from 1,30,459 tonne, while that of crude palm kernel oil (CPKO) increased to 14,850 tonne from 10,997 tonne.

Among soft oils, import of sunflower oil declined to 1,97,842 tonne in December 2019 from 2,35,824 tonne in the year-ago period. However, the shipment of soyabean oil peaked sharply to 1,68,048 tonne from 85,404 tonne in the period. The government on January 8, this year had banned import of RBD palmolein to regulate excessive import of refined palm oils. The import will now be subjected to license, to be issued by Director General of Foreign Trade (DGFT).

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