Imports of vegetable oils, comprising edible and non-edible oils, fell 13 percent to nearly 9.12 lakh tonne during April, according to industry data. The Solvent Extractors' Association of India (SEA) said in a statement that the import of vegetable oils stood at 9,11,846 tonne in April 2022 compared to 10,53,347 tonne in April 2021.

Share Market Live

NSE

The import of edible oils fell to 9,00,085 tonne from 10,29,912 tonne, while shipments of non-edible oils declined to 11,761 tonne from 23,435 tonne. Oil marketing year runs from November to October.

Imports of vegetable oils during the first six months of this oil marketing year (November 2021 to April 2022) rose 4 percent to 67,07,574 tonne. It was 64,28,350 tonne in the corresponding period of the previous marketing year.

"Indonesia has banned the export of palm oil with effect from April 28, 2022, which has queered the pitch and made life difficult for hapless consumers across the world," SEA said in a statement. India imports about 6,00,000-6,50,000 tonne of palm oil per month from Indonesia, Malaysia and Thailand and other countries.

Out of which, Indonesia supplies about 3,00,000 tonne, mainly RBD Palmolein, and a similar quantity arrives from Malaysia and the remaining 10 percent from Thailand and other countries. "It is expected, that Indonesia may lift the ban before the end of May, however, the situation will turn ugly if Indonesia continues to ban the export of palm oil products as enough supply from other origins is not available," SEA said.

First Published:May 13, 2022 6:55 PM IST