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Indias Vegetable Oil Imports Surge by 16% in Nov-Dec 2024: SEA

17 Jan 2025 5:14 pm
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MUMBAI, 17 Jan (Commoditiescontrol): India’s vegetable oil imports recorded a sharp increase of 16% during November-December 2024, as per the Solvent Extractors’ Association of India (SEA). The total import volume for the two months reached a significant level compared to the same period last year, driven by robust demand and a steady global supply.

Palm oil imports, which form the largest share of India’s vegetable oil imports, witnessed a notable rise. Both crude palm oil (CPO) and refined, bleached, and deodorized (RBD) palmolein imports surged during this period. The SEA report highlighted that the consistent availability of palm oil at competitive international prices played a pivotal role in this growth.

The report also revealed that imports of soft oils like sunflower oil and soybean oil showed a steady trend. Sunflower oil, a preferred choice for many Indian households, maintained strong import volumes due to stable pricing and availability in the global market.

The data further underscored India’s reliance on imports to meet domestic edible oil requirements. Despite efforts to boost local production, the demand-supply gap continues to drive import dependency.



Looking ahead, the SEA emphasized the need for a balanced approach to manage imports, strengthen domestic oilseed production, and ensure price stability in the edible oil market.

This report reflects the ongoing dynamics of India’s edible oil industry, where global factors and local demand intricacies intersect.

(By Commoditiescontrol Bureau; +91 98201 30172)


       
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