Commodity News
HeadLine : Palm oil imports skyrocket to record 12.62 lakh tonnes in September
Date : Oct 14 2021
India imported a record volume of palm oil in September ever since it began shipping in the commodity in 1996, while the country's purchase of edible oils also hit a new high during the month as a result. According to the data available with Solvent Extractors’ Association of India (SEA), the country imported 12.62 lakh tonnes (lt) of palm oil (including RBD palmolien, crude palm oil and crude palm kernel oil) during September against 7.5 lt in August, recording a growth of 68.24 per cent. BV Mehta, Executive Director of SEA, said palm oil import at 12.62 lt in September is the highest in any single month since India started importing palm oil in 1996. Import of RBD palmolien sharply increased during August and September due to the relaxation in policy for import of RBD palmolein with effect from July 1. The overall import of RBD palmolein jumped by over 50 per cent and reported at 6.28 lt in the first 11 months of the oil year 2020-21 (November-October) as against 4.16 lt in the corresponding period of the previous oil year, he said. Indonesia and Malaysia are the major suppliers of RBD palmolein and CPO to India. During November-September 2020-21, Malaysia exported 32.66 lt of CPO and 1.82 lt of RBD palmolein, followed by Indonesia at 4.35 lt of RBD palmolein and 32.31 lt of CPO to India. Import of edible oils has reached a new peak after six years with the import of 16.98 lt in September. He said it is a new record in the shipment of edible oil in a single month. Earlier, India had imported 16.51 lt in October 2015.

Source: Business Line
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