Indias veg oil imports up 19% in Nov15-Mar16
The Dollar Business Bureau India’s vegetable oil imports increased by 19% to 51.25 lakh tonnes in the first four months of oil year 2015-16 from 42.95 lakh tonnes in the same period of last year, according to the Solvent Extractors’ Association of India (SEA) data. In February 2016, the imports of vegetable oils grew by 28% to 11.11 lakh tonnes, consisting of 10.94 lakh tonnes of edible oils and 16.50 thousand tonnes of non-edible oils, from 8.68 lakh tonnes a year ago. “Current stock of edible oils as on March 1, 2016 at various ports is estimated to be at 9.10 lakh tonnes (crude palm oil 3.30 lakh tonnes, RBD palmolein 1.70 lakh tonnes, degummed soybean oil 3.20 lakh tonnes, crude sunflower oil 70 ...
Vegetable oil imports up 24.77% in December
The Dollar Business Bureau India’s vegetable oil imports grew by 24.77% to 1.41 million tonnes in December 2015 as compared to 1.13 million tonnes in December 2014, according to the latest report by the Solvent Extractors’ Association. The country imported 1.40 million tonnes of edible oil and 11.47 thousand tonnes of non-edible oil during the month. Overall import of vegetable oil during first two months of oil year 2015-16, i.e. November and December 2015, increased by 18% to 2.76 million tonnes from 2.33 million tonnes during the corresponding period of previous oil year. “It is a well-known fact that globally the prices of edible oil are historically low since 2008, and has affected the domestic players,” the Solvent Extractors’ Association (SEA) ...
Oilmeal exports down 85% in December
Concerned over availability of oil in the domestic market, the SEA has requested the government to reduce import duty to 5-10% from the current 30% on high oil content oilseeds The Dollar Business Bureau Oilseeds imports will not adversely impact the Indian farmers as they are protected with an assured M.S.P. by the government Oilmeal exports in December slumped by 85% due to a huge decline in Soybean crushing and negligible domestic production of both oils and meals. Last month, oilmeal exports stood at only 59,818 tonnes compared to 410,178 tonnes in December 2014. The alarming declines of Indian oilseeds production and crushing are going along with booming import demand for vegetable oils and have brought oilmeal exports from India almost to a standstill, ...
Indias oilmeal exports decline by 41% in November
Indias oilmeal exports to Japan, Iran, Thailand, Indonesia, Taiwan and Vietnam have gone down considerably due to severe competition from other major exporting countries including China and Argentina The Dollar Business Bureau Indian oilmeal has lost Vietnam market due to a stiff competition from other exporters and increased availability of the commodity from their domestic crushing units Indias oilmeal exports fell by 41% in November to 112,081tonnes as against 189,032 tonnes in the same month last year. Accumulative exports of oilmeal during April-November 2015 also fell by 38% to just 895,646 tonnes from last years 1,452,105 tonnes. The export of soybean meal is at a historical low during current year and reported 55,889 tonnes during the first eight months of the financial year 2015-16 ...
Industry demands customs duty hike on edible oil imports
Deepak Kumar| The Dollar Business Bureau To fulfill the domestic requirements of raw material, the Association said imports of oilseeds, oilcakes and rice bran should be encouraged by reducing the import duty to a reasonable level To stimulate vegetable oil and oilseeds sector, an industry body has come up with a number of suggestions, such as increasing customs duty on edible oil imports to safeguard farmers’ interest, for the upcoming annual Budget 2016-17. “We have sent the proposals on October 29 to the government and now we are pursuing the matter,” B V Mehta, Executive Director of the Solvent Extractors’ Association (SEA), told The Dollar Business. Domestic production of oilseeds has been declining in the last two years as farmers are ...
Oil seeds production to decline by 10% in 2015-16
Deepak Kumar | The Dollar Business Even as the Indian edible oil processing industry is largely dependent on imports, the country’s oil seeds crop is estimated to decline further to about 126.10 lakh tonnes during the current kharif season, lower than 141.15 lakh tonnes produced last season. Total oil seeds trade during 2015-16 is projected to be 240.85 lakh tonnes, down almost 10% from 266.85 lakh tonnes during the previous fiscal. Vegetable oil yield from kharif oil seeds crops and other sources is estimated to be around 50.95 lakh tones, slightly lower than 53.57 lakh tonnes produced a year ago. Industry experts attributed this decline to an uncompetitive domestic market and sought government’s active support in encouraging farmers to boost domestic ...
