Import of veg oils for May ’18 reported at 12,86,240 tonne, down by 7%
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Friday, 15 June, 2018, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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The Solvent Extractors’ Association of India has compiled the import data of vegetable oils (edible and non-edible) for the month of May 2018. The import of vegetable oils during May 2018 was reported at 12,86,240 tonne compared to 13,84,439 tonne in May 2017, i e down by seven per cent. It consisted of 12,46,462 tonne of edible oils and 39,778 tonne of non-edible oils. The overall import of vegetable oils between November 2017 and May 2018 was reported at 86,04,535 tonne compared to 85,22,704 tonne, i e up by one per cent.
Import of Vegetable Oil (Edible & Non-edible) Nov.’17-May ’18
(Qty. in MT)
Month
|
2017-18
|
2016-17
|
Percentage
change
|
Edible
|
Non-edible
|
Total
|
Edible
|
Non-edible
|
Total
|
November
2017
|
12,25,315
|
2,349
|
12,48,810
|
11,55,863
|
19,601
|
11,75,464
|
(+)
6%
|
December
2017
|
10,58,289
|
30,494
|
10,88,783
|
11,74,296
|
35,389
|
12,09,685
|
(-)
10%
|
January
2018
|
12,46,847
|
44,294
|
12,91,141
|
10,12,085
|
16,774
|
10,28,859
|
(+)
25%
|
February
2018
|
11,24,999
|
32,045
|
11,57,044
|
12,34,255
|
36,188
|
12,70,443
|
(-)
9%
|
March
2018
|
11,22,685
|
23,366
|
11,46,051
|
10,97,876
|
16,449
|
11,14,325
|
(+)
3%
|
April
2018
|
13,68,616
|
17,850
|
13,86,466
|
13,24,014
|
15,475
|
13,39,489
|
(+)
3.5%
|
May
2018
|
12,46,462
|
39,778
|
12,86,240
|
13,23,792
|
60,647
|
13,84,439
|
(-)
7%
|
Total
|
83,93,213
|
2,11,322
|
86,04,535
|
83,22,181
|
2,00,523
|
85,22,704
|
(+)
1%
|
The current duty structure, coupled with rupee depreciation and credit crunch in the market, has slowed down the import, which is evident from the above data.
Secondly, in May 2018, for the first time, it was seen that the import of soft oils (soya, sunflower and rape) is higher than palm oil, with soft oils’ share at 60 per cent and that of palm oil was 40 per cent. Also soft oil import and sunflower oil import were the highest in any single month since India started importing edible oils in 1994.
Record stock at port and in pipeline The stock of edible oils as on June 1, 2018 at various ports was estimated at 10,02,000 tonne [CPO 3,20,000 tonne, RBD Palmolein 1,70,000 tonne, Degummed Soybean Oil 2,30,000 tonne, Crude Sunflower Oil 2,70,000 tonne and 12,000 tonne of Rapeseed (Canola) Oil] and about 16,60,000 tonne in pipelines. The total stock at ports and in pipelines is reported at 26,62,000 tonne, increased by 3,24,000 tonne from 23,38,000 tonne in May 2018. India’s total demand for edible oils during 2017-18 is estimated at 23 lakh tonne. The monthly requirement is about 19 lakh tonne and operate at 30 days’ stock, against which currently holding stock over 26.62 lakh tonne equal to 42 days’ requirements. This is the highest-ever stock putting pressure on domestic prices of edible oils.
Stock position at ports and pipelines (Quantity in ’000 MT)
|
June
1,2018
|
May
1,
2018
|
April
1,
2018
|
March
1,
2018
|
February
1,
2018
|
January
1,
2018
|
December
1,
2017
|
November
1,
2017
|
October
1,
2017
|
September
1,
2017
|
August1,
2017
|
July
1,
2017
|
June
1,
2017
|
Port
stock
|
1,002
|
1,068
|
770
|
757
|
855
|
876
|
847
|
884
|
979
|
907
|
883
|
738
|
770
|
Pipe
lines
|
1,660
|
1,270
|
1,342
|
1,440
|
1,340
|
1,300
|
1,420
|
1,460
|
1,610
|
1,590
|
1,540
|
1,390
|
1,335
|
Total
stock
|
2,662
|
2,338
|
2,112
|
2,197
|
2,195
|
2,176
|
2,267
|
2,344
|
2,589
|
2,497
|
2,473
|
2,278
|
2,160
|
Import of palm products Historically, palm oil constitute the major share of the imports by India. The landed cost of RBD Palmolein and CPO are more or less the same, encouraging the larger import of RBD Palmolein (finished product) over CPO (raw material), serious hurting domestic refiners for capacity utilisation.
Import of palm oil - November 2017 to May 2018 (Quantity in MT)
Year
(November
to October)
|
RBD
Palmolein
|
CPO
|
CPKO
|
Total
|
November
2017
|
1,47,362
(21 per
cent)
|
5,59,584
(78
per
cent)
|
10,022
(one
per cent)
|
7,16,968
|
December
2017
|
1,06,924
(15 per
cent)
|
6,08,405
(84 per
cent)
|
7,528
(one
per cent)
|
7,22,857
|
January
2018
|
1,50,664
(18 per
cent)
|
6,72,762
(81 per
cent)
|
11,018
(one
per cent)
|
8,34,444
|
February
2018
|
2,02,409
(27 per
cent)
|
5,46,009
(72 per
cent)
|
11,827
(one
per cent)
|
7,60,245
|
March
2018
|
1,63,222
(21 per
cent)
|
5,91,985
(78 per
cent)
|
5,493
(one
per cent)
|
7,60,700
|
April
2018
|
2,09,772
(27 per
cent)
|
5,56,822
(71 per
cent)
|
12,290
(two
per cent)
|
7,78,884
|
May
2018
|
1,57,832
(32
per cent)
|
3,31,592
(67
per cent)
|
7,054
(one
per cent)
|
4,96,478
|
November
2017
and
May 2018
November
2016
and
May
2017
|
11,38,185
(23
per cent)
1,662,360
(32
per cent)
|
38,67,159
(76
per cent)
3,398,879
(67
per cent)
|
65,232
(one
per cent)
44,242
(one
per cent)
|
50,70,576
51,05,481
|
2016-17
|
28,70,928
(31 per
cent)
|
63,35,321
(68 per
cent)
|
87,468
(one
per cent)
|
92,93,717
|
2015-16
|
26,23,002
(31 per
cent)
|
57,49,231
(68 per
cent)
|
70,607
(one
per cent)
|
84,42,840
|
2014-15
|
16,59,070
(17 per
cent)
|
77,24,077(81
per
cent)
|
1,53,757
(two
per cent)
|
95,36,904
|
2013-14
|
15,76,354
(20 per
cent)
|
62,52,788
(78 per
cent)
|
1,28,818
(two
per cent)
|
79,57,960
|
Import of palm and soft oil ratio Between November 2017 and May 2018, the overall Palm Oil import has decreased to 50,70,576 tonne from 51,05,481 tonne, while soft oils import increased to 33,22,637 tonne from 32,16,700 tonne during the same period of last year. Also a parcel of 3,000 tonne of cottonseed oil from the United States arrived during April 2018.
Import of palm oil and soft oil (Ratio) November 2017 to May 2018 (Quantity in MT)
Year
(November
and October)
|
Palm
Oil
|
Soft
Oil
|
%
|
Total
|
(RBD
Palmolein
+ CPO
+
Crude Olein + CPKO)
|
Soybean
|
Sunflower
|
Rape
|
Others
|
Total
|
|
|
November
2017
|
7,16,968
|
59%
|
2,73,928
|
1,93,810
|
40,609
|
-
|
5,08,347
|
41%
|
12,25,315
|
December
2017
|
7,22,857
|
68%
|
79,250
|
2,36,655
|
19,527
|
-
|
3,35,432
|
32%
|
10,58,289
|
January
2018
|
8,34,444
|
67%
|
2,24,870
|
1,70,831
|
16,702
|
-
|
4,12,403
|
33%
|
12,46,847
|
February
2018
|
7,60,245
|
68%
|
1,33,787
|
2,12,531
|
18,436
|
-
|
3,64,754
|
32%
|
11,24,999
|
March
2018
|
7,60,700
|
68%
|
1,15,102
|
2,10,269
|
36,614
|
-
|
3,61,985
|
32%
|
11,22,685
|
April
2018
|
7,78,884
|
57%
|
2,64,750
|
2,94,450
|
27,520
|
3,012*
|
5,89,732
|
43%
|
13,68,616
|
May
2018
|
4,96,478
|
40%
|
3,96,969
|
3,30,985
|
22,030
|
-
|
7,49,984
|
60%
|
12,46,462
|
November
2017
to
May 2018
November
2016
and
May
2017
|
50,70,576
51,05,481
|
60%
61%
|
14,88,656
16,89,891
|
16,49,531
13,39,511
|
1,81,438
1,81,208
|
3,012
6,090
|
33,22,637
32,16
,700
|
40%
39%
|
83,93,213
83,22,181
|
2016-17
|
92,93,717
|
62%
|
33,16,207
|
21,68,754
|
2,92,652
|
6,090
|
57,83,703
|
38%
|
1,50,77,420
|
2015-16
|
84,42,840
|
58%
|
42,34,809
|
15,16,220
|
3,77,469
|
-
|
61,28,498
|
42%
|
1,45,71,338
|
2014-15
|
95,36,904
|
66%
|
29,85,944
|
15,42,599
|
3,55,824
|
-
|
48,84,367
|
34%
|
1,44,21,271
|
2013-14
|
79,57,960
|
68%
|
19,51,233
|
15,09,250
|
1,99,891
|
-
|
36,60,374
|
32%
|
1,16,18,334
|
Average prices and rupee depreciation (Price in $/CIF Indian port/tonne)
Oils
|
May
2018
|
April
2018
|
March
2018
|
February
2018
|
January
2018
|
December
2017
|
November
2017
|
October
2017
|
September
2017
|
August
2017
|
July
2017
|
RBD
Palmolein
|
661
|
673
|
678
|
677
|
669
|
661
|
702
|
716
|
729
|
684
|
683
|
Crude
Palm
Oil
|
652
|
664
|
671
|
675
|
669
|
662
|
703
|
717
|
730
|
670
|
681
|
Crude
Soybean
Oil
|
771
|
808
|
804
|
809
|
817
|
811
|
839
|
829
|
836
|
813
|
802
|
Crude
Sunflower Oil
|
806
|
822
|
807
|
803
|
800
|
800
|
811
|
821
|
838
|
824
|
804
|
FE:
$1
= (Average)
|
67.51
|
65.67
|
65.05
|
64.43
|
63.65
|
64.24
|
64.84
|
65.04
|
64.48
|
63.97
|
64.42
|
In the last one year, in international market, the prices of edible oils have gone down by three to 10 per cent due to larger supply, and at the same time, rupee depreciation by nearly five per cent in one year, nullified the advantage of price reduction.
Import of non-edible oils Import of non-edible oils between November 2017 and May 2018 is reported at 2,11,322 tonne compared to 2,00,523 tonne during the same period last year, i e up by five per cent.
This is mainly due to higher import of P F A D and C P S at nil duty under actual user condition, seriously affecting domestic refiners and main cause of disparity in domestic refining of palm oil.
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