Imports of soyoil doubled in November, but crude palm oil fell

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MUMBAI: Soyoil imports doubled in November but crude palm oil fell. Total vegetable oil (including edible and non-edible oils) reached 11.5 lakh tonnes in November. The imports were 10.40 lakh tonnes in October and 11.04 lakh tonnes in the same month a year ago.

Thus, the total import of vegetable oils in November has increased by 2.4 per cent and 11 per cent on a monthly basis. According to the Solvent Extractors Association, soyoil imports in November rose by 115 per cent to 6.5 lakh tonnes.

However, palm oil imports fell to 7.5 lakh tonnes in November from 2.4 lakh tonnes in October. Imports of RBD palmolin stood at 7 tonnes in November as against 315 tonnes in October. Imports of crude sunflower oil have increased to 1.5 lakh tonnes. Imports of soft oil stood at 4.5 lakh tonnes in November.

Imports of refined oil as well as crude oil have been declining in November. Of this, 8 tonnes of refined oil and 10.50 lakh tonnes of crude oil have been imported. As per the statistics, as on December 1, 2021, the total volume in various ports of the country was 4.05 lakh tonnes and in the pipeline it was 3.50 lakh tonnes with a total volume of 12.5 lakh tonnes.

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