COMMODITY
India’s vegetable oils imports up 18% in June
Jul-12-2024

India’s import of vegetable oils includes edible and non-edible oils stood at 1,550,659 tonnes in June 2024 as compared to 1,314,476 tonnes in the year-ago period, i.e. up by 18%. Edible oils import rose 16.46% in June 2024 to 1,527,481 tonnes from 1,311,576 tonnes in the same month last year. while, imports of non-edible oils jumped to 23,178 tonnes in June from 2,900 tonnes in the year-ago period. 

During the first eight months of 2023-24 oil year ending October (November 2023-June 2024), the imports of vegetable oils fell 2% to 10,229,106 tonnes compared to 10,483,120 tonnes in the corresponding period of the previous year. Imports of refined oil declined 2% to 1,381,818 tonnes during November 2023-June 2024 period of 2023-24 oil year from 1,403,581 tonnes in the corresponding period of the preceding year.

Imports of crude edible oils also declined 3% to 8,713,347 tonnes compared to 8,963,296 tonnes. The share of refined oils (RBD Palmolein) and crude oils share remained same. During November 2023 and June 2024 period, palm oil imports decreased to 5,763,367 tonnes from 6,031,529 tonnes in the year-ago period. Also, soft oil imports fell to 4,331,799 tonnes from 4,335,349 tonnes. India imports palm oil from Malaysia and Indonesia, and soyabean oil from Brazil and Argentina.

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