NEW DELHI: India's imports of refined bleached deodorised (RBD) palmolein last month hit 373,837 tonnes, the highest in any single month since edible oil was allowed under the open general licence in 1994, compared with 253,489 tonnes in March.
The Solvent Extractors' Association of India attributed the surge to the reduced duty difference between crude palm oil and refined palmolein, as well as the palm oil exporting countries' inverted duty structure.
Malaysia and Indonesia are the world's largest palm oil producers.
“This has encouraged larger exports of RBD palmolein to India. In the last two months, the share of refined oil (RBD palmolein) has jumped to over 40% from 16% in March 2013,” the association said in a statement in New Delhi yesterday.
The overall imports of RBD palmolein from November 2012 to May 2013 stood at 1,248,024 tonnes compared with 1,084,933 tonnes previously.
Imports of vegetable oils increased 2.35% to 917,964 tonnes in May versus 896,921 tonnes a year earlier, consisting of 892,066 tonnes of edible oils and 25,898 tonnes of non-edible oils, the association said.
The stock of edible oils at June 1 at various ports was estimated at 675,000 tonnes, comprising crude palm oil at 340,000 tonnes, RBD palmolein (230,000 tonnes), degummed soybean oil (35,000 tonnes) and crude sunflower oil (70,000 tonnes).
With about 1.3 million tonnes in the pipelines, the total stock is 1.975 million tonnes compared with 1.820 million tonnes the previous month. - Bernama
Source:-biz.thestar.com.my
No comments:
Post a Comment