India's cooking oil imports down by 16% in August, says SEA
India (SEA).
«The overall import of vegetable oils during the first ten months of the current oil year (November 2023 to August 2024) is reported at 136.8 lakh tonnes compared to 141.2 lakh tonnes during the same period of last year; down by 3%,» said SEA in a media release.
The trade estimate for import of edible oils during September and October is about 27 to 28 lakh tonnes. «The total import of cooking oils during the 2023-24 oil year is likely to be 160 -165 lakh tonnes, which is similar to the previous year. The total stock as on September 1, stands at 29.25 lakh tonnes, up by 23,000 tons from the 29.02 tonnes reported on August 1, 2024,» said SEA.
In the first ten months of the 2023-24 oil year, overall palm oil imports decreased by 7%, compared to the same period last year. In contrast, soft oil imports increased slightly. «The share of palm oil in the import decreased slightly to 57% from 59%, while the share of soft oils rose marginally to 43% from 41% compared to the previous year,» the release added.
Indonesia and Malaysia are the primary suppliers of RBD Palmolein and Crude Palm Oil (CPO) to India. According to SEA, during the period from November 2023 to August 2024, Indonesia was the leading supplier, providing 28.06 lakh tonnes of CPO and 13.77 lakh tonnes of RBD Palmolein. Malaysia followed with 23.76 lakh tonnes of CPO and 22.7 lakh tonnes of RBD Palmolein.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, Developer and Lead Instructor
