10 percent increase in stock of edible oils at Indian ports
Edible oil stocks at Indian ports rose by 10% from December 31, 2024, to January 15, 2025, reaching 11,30,132 tonnes. While palm oil stocks declined, soybean and sunflower oil stocks surged. Analysts predict palm oil imports may fall below 4 lakh tonnes in January due to high prices in Malaysia and Indonesia, favoring cheaper alternatives from Argentina, Brazil, and Russia.
iGrain India – The stock of edible oils at Indian ports has increased by about 10% from 10,28,973 tonnes on December 31, 2024, to 11,30,132 tonnes on January 15, 2025. Despite this overall increase, specific categories have seen varying trends:
- Crude palm oil (CPO): Fell by 3%, from 2,70,592 tonnes to 2,62,439 tonnes.
- RBD palmolein: Declined by 7%, from 1,87,282 tonnes to 1,73,627 tonnes.
- Crude degummed soybean oil: Saw a 31% rise, from 2,58,404 tonnes to 3,37,918 tonnes.
- Crude sunflower oil: Increased by 17%, from 2,78,474 tonnes to 3,24,563 tonnes.
- Other edible oils: Decreased by 8%, from 34,221 tonnes to 31,585 tonnes.
The decrease in palm oil imports is notable, with analysts predicting a sharp decline below 4 lakh tonnes in January 2025, the first such occurrence in five years. This is attributed to the high prices of palm oil in Malaysia and Indonesia, which has made soybean and sunflower oils more attractive to Indian refiners. Consequently, Indian refineries are prioritizing imports of soybean and sunflower oils, leading to weaker palm oil stocks at ports.
This shift is driven by the reduced margin on palm oil and the competitive prices of alternative oils from Argentina, Brazil, and Russia. Despite a likely decrease in palm oil exports due to seasonal factors, its prices are expected to remain high due to the seasonal demand from events like the Chinese New Year and Ramzan.
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Source : Investing.com
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