Imports of edible oil into India since the start of the season have declined by 5% compared to last season

게시됨 2024년 6월 18일

Tridge 요약

In the first seven months of FY 2023/24, India's edible oil imports fell by 5% to 8.67 million tonnes due to high domestic yields of mustard and soybeans and rising global prices. Palm oil imports decreased by 7%, soybean oil by 22%, while sunflower oil imports increased by 20%. Global soybean oil prices surged due to floods in Brazil and a strike in Argentina, and sunflower oil supplies were reduced from Russia and Ukraine. Total edible oil imports are expected to drop to about 16 million tonnes from 16.47 million tonnes the previous year. Domestic prices for mustard and soybean oils have fallen due to record imports, and the government has extended reduced import duties on palm, soybean, and sunflower oils until March 31, 2025.

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원본 콘텐츠

Imports of edible oils into India fell by 5% to 8.67 million tonnes in the first seven months of FY 2023/24 (November-October) compared to the same period of the previous marketing year. B.V. Mehta, executive director of the Producers Association of India (SEA), told FE that the decline in imports this year was due to high yields of mustard and soybeans in the domestic market and rising global prices. Palm oil imports for the period from November to May (2023-24) amounted to 4.97 million tons, which is 7% less than last year. Soybean oil imports were 1.59 million tonnes, down 22% year-on-year, while sunflower oil imports rose 20% to 1.99 million tonnes this year. Floods in Brazil and a strike by workers in Argentina led to a sharp rise in global soybean oil prices, and sunflower supplies from Russia and Ukraine were reduced due to the "dead season". However, the prices of palm oil, which is the main imported product, remained more or less stable in the international and domestic ...

출처: Graintrade