Import of vegetable oils during September 2015 has risen by 16 per cent to 12.16 lakh tonnes from 10.48 lakh tonnes in September 2014, consisting of 12.05 lakh tonnes of edible oils and 11,039 tonnes of non-edible oils.
The overall import of vegetable oils during November 2014 to September 2015 has increased by 22 per cent to 129.41 lakh tonnes from 105.73 lakh tonnes.
India is being used as a dumping ground for excessive supply of edible oils in the world market. Excessive import has put tremendous pressure on the local prices, which are at a level where Indian oilseeds growing farmers are in distress and losing interest in oilseed crop. Country’s dependence on imported oil has further increased to nearly 70 per cent, an alarming situation for the country’s food security, according to the Solvent Extractors’ Association of India.
Stock position Current stock of edible oils as on October 1, 2015, at various ports is estimated at 7,80 lakh tonnes (CPO
3.50 lakh tonnes, RBD Palmolein 85,000 tonnes, degummed soybean Oil two lakh tonnes, crude sunflower oil 85,000 tonnes and 60,000 tonnes of rapeseed (Canola) oil and about 14.60 lakh tonnes in pipelines.
Total stock at ports and in pipelines decreased to 22.40 lakh tonnes from 23.25 lakh tonnes on September 1, 2015.
India’s monthly requirement is about 16 lakh tonnes against which it currently holds stock of over 22.40 lakh tonnes, equal to 42 days requirements.
During November 2014 – September 2015, import of refined oil (RBD Palmolein) reported at 14.30 lakh tonnes compared to 14.33 lakh tonnes during the same period of last year. Share of imported crude oil rose to 89 per cent from 86 per cent at 113.41 lakh tonnes compared to 89.55 lakh tonnes during the same period of last year.
Non-edible oils Import of non-edible oils during November 2014 to September 2015 is reported at 1.71 lakh tonnes compared to 1.85 lakh tonnes during the same period last year, that is, down by 8 per cent.
