KOLKATA: Import of vegetable oil during November 2012 to April 2013 is reported at 552279505 tons compared to 4714963 tons - up by 12%.
However, the import of vegetable oils during April 2013 is reported at 654,827 tons compared to 925,334 tons in April 2012, consisting of 641,327 tons of edible oils and 13,500 tons of non-edible oils - down by 29.23%, according to Solvent Extractors Association of India.
Stock of edible oils as on May 1, 2013 at various ports reduced due to fall in import during April.'13 and estimated at 670,000 tons (CPO 350,000 tons, RBD Palmolein 175,000 tons, Degummed Soybean Oil60,000 tons, Crude Sunflower Oil 85,000 tons) and about 1,150,000 tons in pipelines. Total stock, both at ports is 1,820,000 tons compared to 2,100,000 tons in previous month.
Import of RBD Palmolein doubled to 253,489 tons in April 2013 compared to 137,407 tons in March2013, thanks to reduction in duty difference between crude and refined palmoleinand inverted duty structure by palm oil exporting countries. This has encouraged larger export of RBD Palmolein to India.
Overall Import of refined oil (RBD Palmolein) during Nov.'12 to Apr.'13 reported at 874,187 tons compared to 919,507 tons during the same period of last year. Share of refined oil is 17%, while crude oil share is 83% and reported at 4,264,576 tons compared to 3,683,636 tons during the same period of last year.
During November '12 to April'13 palm oil import increased to 4,311,057 tons compared to 3,473,981 tons during the same period of last year. However, Soft oils import reduced to 827,706 tons from 1,129,162 tons last year.
In last one year, RBD Palmolein has fallen by $ 371 (31%), CPO by US$ 372 (31%), Crude Soybean Oil by US$ 237 (18%) and Crude Sunflower Oil by $ 112 (9%).
Also, In last one year rupee has further depreciated by Rs. 2.63 per dollor (5.09%). Depreciation of rupee was compensated much more by fall in price and hence Indian consumers were insulated from rupee depreciation.
Import of Non-edible oils during April 2013 is reported at 13,500 tons compared to 27,930 tons during the same period of last year.
The overall import of non-edible oils during Nov.12 to Apr.'13 has increased to 140,742 tons compared to 111,820 tons during the same period last year - up by 26%.