The Import of Vegetable Oils (edible & non-edible) for the month of June, 2023 reported at 1,314,476 tons compared to 991,650 tons in June 2022, consisting 1,311,576 tons of edible oils and 2,900 tons of non-edible oils i.e. up by 49%. The overall import of vegetable oils during first eight months of the oil year 2022-23, i.e. Nov’22.-June’ 23 is reported at 10,483,120 tons compared to 8,760,640 tons during the same period of last year i.e. up by 20%.
Import of Vegetable Oil (Edible & Non-edible) Nov.’22 – June ’23 (Qty. in MT)
Month | 2022-23 | 2021-22 | % Change |
||||
Edible | Non-edible | Total | Edible | Non-edible | Total | ||
Nov.’22 | 1,528,760 | 16,780 | 1,545,540 | 1,138,823 | 34,924 | 1,173,747 | (+) 32% |
Dec.’22 | 1,555,780 | 10,349 | 1,566,129 | 1,216,863 | 9,823 | 1,226,686 | (+) 28% |
Jan.’23 | 1,661,750 | -- | 1,661,750 | 1,251,926 | 18,802 | 1,270,728 | (+) 31% |
Feb.’23 | 1,098,475 | 16,006 | 1,114,481 | 983,608 | 36,389 | 1,019,997 | (+) 9% |
Mar.’23 | 1,135,600 | 36,693 | 1,172,293 | 1,051,698 | 52,872 | 1,104,570 | (+) 6% |
Apr.’23 | 1,021,672 | 28,517 | 1,050,189 | 900,085 | 11,761 | 911,846 | (+) 15% |
May ‘23 | 1,053,265 | 4,998 | 1,058,263 | 1,005,547 | 55,869 | 1,061,416 | (-) 0.30% |
June’23 | 1,311,576 | 2,900 | 1,314,476 | 941,471 | 50,179 | 991,650 | (+) 49% |
Total | 10,366,877 | 116,243 | 10,483,120 | 8,490,021 | 270,619 | 8,760,640 | (+) 20% |
Import of Edible Oil in June 2023 :
Sharp reduction in domestic prices of edible oils, demand has returned which is evident from the rising import in spite of better domestic availability reflecting in June data. The import of crude palm oil recovered and reported at 4.66 lakh tons compared to 3.48 lakh tons of previous month. The import of RBD Palmolien jumped to 2.17 lakh tons from 85,000 tons in the previous month. The overall import of palm products sharply recovered during June 2023 compared to May 2023. The import of Soybean Oil reported at record level of 4.37 lakh tons compared to 3.19 lakh tons in previous month and 2.3 lakh tons in June 2022. Sunflower Oil import suffered and reduced to 1.90 lakh tons compared to 2.95 lakh tons in previous month. Import of Palm Oil from Indonesia has sharply increased and reported at 4.76 lakh tons, while share of Malaysia is hardly 1.54 lakh tons. The Soybean Oil import from Brazil is rising and reported at 1.65 lakh tons during June 2023 and overall import of soybean oil from Brazil during Nov’22 to June’23 increased to record level of 9.73 lakh tons compared to 7.20 lakh tons in previous year.
Monsoon and Sowing Update :
India’s monsoon is performing relatively well; most of the oilseeds production areas received rain enough for the sowing. As on 12th July, 2023 North-West India and Central India have received excess rain while East & North East India are still in deficit, however country has a whole received 2% above the normal rain. The sowing was slow in earlier weeks due to late onset of monsoon, however now the sowing has picked up. The acreage under oilseeds as on 9th July,2023 reported at 93.5 lakh ha. against 104.0 lakh ha. during the same period of last year. The soybean acreage reported at 63.6 lakh ha. against 77.9 lakh ha down by 14.3%,. The Groundnut acreage benefited due to cyclone rain followed by normal rain boosted the acreage and reported at 26.0 lakh ha against 22.1 lakh ha. up by 3.9%.
Domestic Stock :
The Stock of edible oils as on 1st July.,2023 at various ports is estimated at 858,000 tons (CPO 237,000 tons, RBD Palmolein 147,000 tons, Degummed Soybean Oil 299,000 tons and Crude Sunflower Oil 175,000 tons) and pipeline stock considering domestic production and consumption reported at 2,082,000 tons, The total stock as on 1st July, 2023 reported at 2,940,000 tons i.e. more or less same compared to 2,941,000 tons as on 1st June, 2023.
Current Stock Position at Ports & Pipelines : (Qty. in ‘000 M.T.)
1st July 2023 |
1st June 2023 |
1st May 2023 |
1st Apr. 2023 |
1st Mar. 2023 |
1st Feb. 2023 |
1st Jan. 2023 |
1st Dec. 2022 |
1st Nov. 2022 |
1st Oct. 2022 |
1st Sept. 2022 |
1st Aug. 2022 |
1st July 2022 |
|
Port Stock | 858 | 738 | 736 | 978 | 1050 | 1261 | 1042 | 800 | 647 | 729 | 611 | 595 | 600 |
Pipelines | 2082 | 2203 | 2509 | 2469 | 2375 | 2152 | 1959 | 1868 | 1808 | 1852 | 1755 | 1682 | 1644 |
Total Stock | 2940 | 2941 | 3245 | 3447 | 3425 | 3413 | 3001 | 2668 | 2455 | 2581 | 2366 | 2277 | 2244 |
Import of Refined Oil Rising :-
Import of RBD Palmolein is rising fast. The overall refined oils (RBD Palmolein) reached at 14% (14.03 lakh tons) which was 5% (6.86 lakh tons) in 2020-21 and 3% (4.21 lakh tons) in 2019-20 only. This is seriously affecting working of domestic palm oil refining industry.
Import of Refined & Crude Edible Oils (Ratio) Nov.’22 – June’23 (Qty. in MT)
Year (Nov.-Oct) | Refined Oils | % | Crude Oils | % | Total |
Nov., 2022 | 202,248 | 13% | 1,326,512 | 87% | 1,528,760 |
Dec., 2022 | 256,398 | 16% | 1,299,382 | 84% | 1,555,780 |
Jan.,2023 | 173,754 | 10% | 1,487,996 | 90% | 1,661,750 |
Feb.,2023 | 187,236 | 17% | 911,239 | 83% | 1,098,475 |
Mar.,2023 | 169,462 | 15% | 966,138 | 85% | 1,135,600 |
Apr.,2023 | 112,248 | 11% | 909,424 | 89% | 1,021,672 |
May ,2023 | 85,205 | 8% | 968,060 | 92% | 1,053,265 |
June, 2023 | 217,029 | 17% | 1,094,547 | 83% | 1,311,576 |
Nov.’22 – June’23 Nov.’21 – June’22 |
1,403,581 1,100,941 |
14% 13% |
8,963,296 7,389,080 |
86% 87% |
10,366,877 8,490,021 |
2021-22 | 1,840,540 | 13% | 12,189,300 | 87% | 14,029,840 |
2020-21 | 686,340 | 5% | 12,445,171 | 95% | 13,131,511 |
2019-20 | 421,340 | 3% | 12,754,106 | 97% | 13,175,446 |
2018-19 | 2,730,881 | 18% | 12,182,526 | 82% | 14,913,407 |
Sharp increased in Palm Oil Import :-
During Nov.’22 to June ’23, import of palm products sharply increased due to price parity and reported at 6,031,529 tons compared to 4,330,704 tons of same period of last year. The share of palm oil increased to 58% from 51%, also soft oils import increased marginally. In last three months, shipment of sunflower and soybean oils sharply increased and overall import during first eight months of the current oil year at 4,335,349 tons compared to 4,159,317 tons last year. The share of soft oils reduced to 42% from 49%.
Import of Palm Oil & Soft Oil (Ratio) Nov,’22 – June ’23 (Qty. in MT)
Year (Nov-Oct) |
Palm Oil | Soft Oil | % | Total | |||||
(RBD Palmolein + CPO + Crude Olein + CPKO) |
Soybean | Sunflower | Rape | Others | Total | ||||
Nov.,2022 | 1,141,678 | 75% | 229,373 | 157,709 | --- | --- | 387,082 | 25% | 1,528,760 |
Dec.,2022 | 1,109,246 | 71% | 252,525 | 194,009 | --- | --- | 446,534 | 29% | 1,555,780 |
Jan.,2023 | 833,667 | 50% | 366,625 | 461,458 | --- | --- | 828,083 | 50% | 1,661,750 |
Feb.,2023 | 586,007 | 53% | 355,840 | 156,628 | --- | --- | 512,468 | 47% | 1,098,475 |
Mar.,2023 | 728,530 | 64% | 258,925 | 148,145 | --- | --- | 407,070 | 36% | 1,135,600 |
Apr.,2023 | 510,094 | 50% | 262,455 | 249,122 | --- | --- | 511,577 | 50% | 1,021,672 |
May 2023 | 439,173 | 42% | 318,887 | 295,206 | --- | --- | 614,093 | 58% | 1,053,265 |
June2023 | 683,133 | 52% | 437,658 | 190,785 | --- | --- | 628,443 | 48% | 1,311,576 |
Nov.’22-June ’23 Nov.’21-June ’22 |
6,031,529 4,330,704 |
58% 51% |
2,482,288 2,810,990 |
1,853,061 1,348,327 |
--- --- |
--- --- |
4,335,349 4,159,317 |
42% 49% |
10,366,877 8,490,021 |
2021-22 | 7,914,626 | 56% | 4,171,535 | 1,943,679 | --- | --- | 6,115,214 | 44% | 14,029,840 |
2020-21 | 8,320,537 | 63% | 2,865,619 | 1,893,578 | 51,777 | --- | 4,810,974 | 37% | 13,131,511 |
2019-20 | 7,217,357 | 55% | 3,384,054 | 2,518,999 | 55,036 | -- | 5,958,089 | 45% | 13,175,446 |
2018-19 | 9,409,248 | 63% | 3,094,113 | 2,350,875 | 59,171 | -- | 5,504,159 | 37% | 14,913,407 |
Thailand and Brazil Emerging Bigger Suppliers of CPO & Soybean Oil to India :
Indonesia and Malaysia are the major suppliers of RBD Palmolein and Crude Palm Oil to India. During Nov.’22-June ’23, Indonesia was the major supplier and accounted for 2,075,175 tons of CPO (45%) and 1,137,110 tons of RBD Palmolein (81%) followed by Malaysia of 1,602,696 tons of CPO (35%) and 238,518 tons RBD Palmolein (17%). Thailand is emerging as a regular supplier of crude palm oil to India and supplied 671,345 tons of CPO (15%) and 11,499 tons of RBD Palmolein (1%). In the case of Crude Soybean Degummed Oil; India imported 1,348,994 tons from Argentina (54%) while Brazil is emerging supplier of soybean oil to India and supplied 973,244 tons (39%) while for Crude Sunflower Oil, Russia is the leading supplier and supplied 537,114 tons (29%) followed by 409,944 tons from Ukraine (22%) and 233,335 tons from Argentina (13%).
Country-wise Import of Edible Oils Nov.’22 – June ’23 (Qty. in MT)
Country | RBD Palmolein |
Crude Palm Oil |
Crude Palm Kernel Oil |
Crude Soybean Oil |
Crude Sunflower Oil |
Crude Rapeseed Oil |
Total |
Indonesia | 1,137,110 | 2,075,175 | 2,000 | 10,862 | -- | -- | 3,225,147 |
Malaysia | 238,518 | 1,602,696 | 30,838 | -- | -- | -- | 1,872,053 |
Thailand | 11,499 | 671,345 | 19,006 | 56,508 | -- | -- | 758,358 |
Argentina | -- | -- | -- | 1,348,994 | 233,335 | -- | 1,582,329 |
Brazil | -- | -- | -- | 973,244 | 12,000 | -- | 985,244 |
Ukraine | -- | -- | -- | -- | 409,944 | -- | 409,944 |
Russia | -- | -- | -- | 56,654 | 537,114 | -- | 593,768 |
Others | 16,454 | 226,137 | 750 | 36,026 | 660,668 | -- | 940,035 |
Total | 1,403,581 | 4,575,354 | 52,594 | 2,482,288 | 1,853,061 | -- | 10,366,877 |
Nov’21-june ’22 | 1,100,941 | 3,179,022 | 50,741 | 2,810,990 | 1,348,327 | -- | 8,490,021 |
Average Prices and Rupee appreciation: (Price in US$/CIF Indian Port/Ton)
Oils | June 2023 |
May 2023 |
Apr 2023 |
Mar 2023 |
Feb 2023 |
Jan 2023 |
Dec 2022 |
Nov 2022 |
Oct 2022 |
Sept 2022 |
Aug 2022 |
July 2022 |
June 2022 |
RBD Palmolein | 849 | 915 | 1025 | 1006 | 1002 | 982 | 995 | 1028 | 947 | 942 | 1079 | 1097 | 1519 |
Crude Palm Oil | 875 | 938 | 1039 | 1024 | 1015 | 997 | 997 | 1024 | 938 | 946 | 1103 | 1120 | 1557 |
Crude Soybean Oil | 1036 | 999 | 1049 | 1155 | 1274 | 1285 | 1326 | 1461 | 1362 | 1296 | 1447 | 1413 | 1686 |
Crude Sunflower Oil | 914 | 957 | 1036 | 1108 | 1224 | 1295 | 1322 | 1445 | 1411 | 1329 | 1571 | 1621 | 1941 |
Crude Rapeseed Oil | 952 | 985 | 1042 | 1155 | 1316 | 1384 | 1418 | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. |
FE: 1US$ =(Average) | 82.22 | 82.30 | 81.97 | 82.26 | 82.60 | 81.74 | 82.47 | 81.68 | 82.29 | 80.25 | 79.50 | 79.59 | 78.09 |
Import of Non-edible Oils :
P.F.A.D., RBD Palm Sterain and P.K.F.A.D are the major non-edible oils being imported by the Soap and Oleo-chemical industry. Import of Non-edible oils during Nov.’22–June ’23 is reported at 116,243 tons compared to 270,619 tons during the same period of last year i.e. down by 57%.