New Delhi [India]Jan 15 (ANI): India imported 1.55 million tonnes of cooking oils in December, a 22 percent annual increase, data from the Solvent Extractors’ Association of India showed.
Overall, the import of vegetable oils, including cooking oils, is reported at 1.56 million tons in December 2022, compared to 1.22 million tons in the same month of 2021, an increase of about 28 percent.
Total import of vegetable oils in the first two months of the 2022-23 oil year (November-December) is reported at 3.1 million tonnes, compared to 2.4 million tonnes in the same period last year, an increase of 30 percent, as the data showed .
India is the world’s second largest consumer and vegetable oil importer, importing around 60 percent of its needs. Self-reliance or “Atma Nirbharta” in edible oils is the need of the moment for India and is in the public interest for the well-being of farmers and consumers.
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“From November to December 2022, palm oil imports increased sharply from 1,105,582 tons to 2,250,924 tons, while from November to December 2021 soft oil imports decreased to 833,616 tons from 1,250,104 tons, mainly due to a wider spread between palm oil and soft oil. encouraged greater imports of palm products,” SEA said.
Palm oil’s share increased from 47 percent to 73 percent, while soft oils fell from 53 percent to 27 percent.
Meanwhile, the total stocks of edible oils as of January 1, 2023 in various ports were estimated at 892,000 tons (crude palm oil 497,000 tons, RBD palm olein 195,000 tons, degummed soybean oil 1,00,000 tons and crude sunflower oil 100,000 tons). Another pipeline stock of 2.3 million tons, SEA data showed (ANI).
(This is an unedited and auto-generated story from the Syndicated News feed, LatestLY staff may not have modified or edited the content.)
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