Indian Vegetable Oil Import In March Down Six Per Cent

By M.Saraswathi NEW DELHI (India), April 16 (Bernama) -- India's import of vegetable oil, both edible and non-edible, dropped six per cent to 835,424 tonnes in March 2014 compared with 889,415 tonnes recorded in March last year, The Solvent Extractors' Association of India said Tuesday. Total import consisted of 832,925 tonnes of edible oils and 2,499 tonnes of non-edible oils. "The overall import of vegetable oils during November 2013 to March 2014 is reported at 4,332,231 tonnes compared with 4,624,678 tonnes, down by six per cent," it said in a statement. During the November 2013 to March 2014 period, palm oil import decreased to 3,142,418 tonnes from 3,812,097 tonnes registered in the same period last year due to disparity in processing. However, soft oils import increased to 1,111,239 tonnes from 685,339 tonnes during the same period of last year. "Indian refiners prefer to import crude soft oils over crude palm oil in India, which was reflected in the import pattern of the last few months," said the association. During the same period, import of refined oil increased 32 per cent to 817,615 tonnes compared with 620,698 tonnes recorded in the same period in 2013. Current edible oils stocks, as of April 1, 2014, at various ports is estimated at 490,000 tonnes, of which crude palm oil is 270,000 tonnes, refined bleached and deodrised palm olein (90,000 tonnes), degummed soybean oil (50,000 tonnes) and crude sunflower oil (80,000 tonnes) and about 710,000 tonnes in pipelines. Total stocks, both at ports and in pipelines, reduced further to 1,200,000 tonnes from 1,245,000 tonnes earlier, it added. --BERNAMA