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Edible oil import remains nearly flat in oil year 2020-21

16 Nov 2021 3:28 pm
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New Delhi, 16 Nov (Commoditiescontrol) India’s import of edible oil remained nearly flat at 131.3 lakh tonnes during the 2020-21 marketing year ending October, but in value terms inwards shipments rose 63 per cent to Rs 1.17 lakh crore, showed the data compiled by the industry body, Solvent Extractors Association of India, SEA.

As per the SEA data, the import of vegetable oils during Oil Year 2020-21 (Nov.’20 to Oct.’21) i.e. edible oil and non-edible oil is reported at 135.31 lakh tons (13.53 MnT) compared to 135.25 lakh tons (13.53 MnT) during 2019-20 The frequent changes in import duty in last few months on edible oils by the Government of India that also disturbed the import pattern. Import of edible and non-edible oil : The total import of vegetable oils i.e. edible oil and non-edible oil for the year 2020-21(Nov.’20 to Oct.’21) is reported at 135.3 lakh tons is lowest in last six year.

The import of vegetable oils has been at the lowest for the second time in last six years, SEA said in a statement.

As per the data, edible oil import fell to 131.3 lakh tonnes in 2020-21 from 131.5 lakh tonnes in the previous year, while imports of non-edible oil rose to 399,822 tonnes from 3,49,172 tonnes.

In value terms, SEA said the import of edible oil gone up to Rs 1,17,000 crore in 2021-21 from Rs 71,625 crore in 2019-20.

The frequent changes in import duty on edible oils in last few months by the Government of India also disturbed the import pattern, the association said.

Import of refined oil has marginally increased to 6.86 lakh tonnes in 2020-21 as compared to 4.21 lakh tonnes during 2019-20, while crude oil import marginally decreased to 124.45 lakh tonnes compared to 127.54 lakh tonnes.

''Crude and refined oil import ratio is 95:5, which was 81:19 in 2016-17. The higher import of crude veg oil helped domestic refiners to have the better capacity utilization, employment generation and value addition in the country,'' SEA said.

During 2020-21, palm oil import sharply increased to 83.21 lakh tonnes as compared to 72.17 lakh tonnes during the previous year due to reduction in import duty on CPO (Crude Palm Oil) and lifting of restriction on import of RBD (Refined, Bleached and Deodorised) Palmolein. The import of soft oil (soyabean, sunflower and other oils) decreased to 48.12 lakh tonnes from 59.58 lakh tonnes in last year, consisting of 28.66 lakh tonnes of soybean oil, 18.94 lakh tonnes of sunflower oil, 0.52 lakh tonnes of rapeseed oil.

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