India reduced vegetable oil imports in November-January 2023/24 MY

India imported about 3.67 million tons of vegetable oils in the period from November 2023 to January 2024, analysts of the national association SEA (Solvent Extractors’ Association of India) reported. According to their estimates, supplies to the country for the year fell by 23% – from 4.77 million tons.

About 70% of the structure of purchases was palm oil – 2.55 million tons (3.084 million tons in November 2022-January 2023). Another 30% of the volume was formed by liquid oils: sunflower oil – 609.64 thousand tons (813.2 thousand tons) and soybean oil – 491.4 thousand tons (848.52 thousand tons).

As experts note, palm oil in the reporting period was mainly purchased from Indonesia and Malaysia – 1.575 million tons and 815.5 thousand tons, respectively. Small batches (almost 111.5 thousand tons) were imported from Thailand.

The key suppliers of soybean oil were Brazil and Argentina – 214.4 thousand tons and 191.96 thousand tons respectively. At the same time, Russia also purchased almost 32 thousand tons of this product.

As for sunflower oil, the most frequent shipments came from Romania and Russia – 232.1 thousand tons and 160.9 thousand tons, respectively. In addition, large consignments were also shipped from Argentina (119.4 thousand tons) and Ukraine (43 thousand tons).

Tags: India, palm oil, sunflower oil, soybean oil