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%. 

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