India’s vegetable oil stocks have fallen to a five-month low
India’s vegetable oil stocks fell to a five-month low of 1.6 million tonnes at end-November, down 1 million tonnes from a year earlier, SEA said. The drop stems from weaker imports, totaling 1.2 million tonnes, including 635,000 tonnes of palm oil, 400,000 tonnes of soybean oil and 143,000 tonnes of sunflower oil.
According to the Securities Edible Oils Association (SEA), stocks of key vegetable oils in the country fell to a five-month low at the end of November, estimated at 1.6 million tonnes, down 1 million tonnes from the same period a year ago.
The decline is due to weak imports of all key vegetable oils—1.2 million tonnes (down 0.5 million tonnes from a year ago), of which palm oil exports amounted to 635,000 tonnes, soybean oil exports amounted to 400,000 tonnes (of which 70,000 tonnes came from China), and sunflower oil exports amounted to 143,000 tonnes.
Total imports since the beginning of the year amounted to 14.7 million tonnes, down 1 million tonnes from last year. At the same time, a significant decline in palm oil supplies was recorded – from 8.39 to 6.99 million tonnes, and sunflower oil – from 3.50 to 2.85 million tonnes, partially offset by record soybean oil imports – 3.71 (3.41) million tonnes.
Earlier, it was reported that total edible oil imports into India fell to a seven-month low due to lower soybean and sunflower oil imports and amounted to 1.12–1.17 million tonnes, a 25–28% decrease from the previous year.
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Source: Ukr Agro Consult
