Stocks of vegetable oil in Indian ports have decreased

Published 2022년 3월 15일

Tridge summary

India's palm oil imports rose by 22% year-on-year to 454,794 tons in February but fell in March due to high international prices. Port stocks hit their lowest since May 2021 due to hand-to-hand buying and disrupted sunflower oil supplies from Ukraine. Total stocks were slightly higher in February at 1.87 million tons. Palm oil imports accounted for 46% of India's total edible oil imports in February. The international vegetable oil supply crisis, caused by production shortfalls and export restrictions, has led to palm oil prices converging with or exceeding those of soybean and sunflower oil. The conflict in Ukraine may further reduce sunflower oil supplies, although this may be offset by increased domestic availability of soybean and mustard oil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Basic moments India's palm oil imports rose 22% year-on-year to 454,794 tons in February but were lower in March as price-sensitive buyers curtailed purchases amid strong international prices, SEA data showed on March 14. Stocks at ports as of the end of February fell to their lowest level since May 2021 due to hand-to-hand buying coupled with improved soybean oil imports and a disruption in sunflower oil supplies from India's main supplier, Ukraine, SEA reported. Edible oil inventories at various ports stood at 490,000 tons as of March 1, according to the SEA, the lowest level since April 2021, when the port's inventory fell to 463,000 tons. The SEA noted that the total stocks, which is the sum of the stocks of ports and the chain of orders placed, were at the level of 1.87 million tons at the end of February, which is slightly higher compared to 1.86 million tons a month earlier. "Over the next two to three months, we will continue to see further reductions in port inventories ...

Source: Oilworld