India’s Stocks of Edible Oils Beginning 2020 at Various Ports, Pipelines Down Sharply

The stock of imported edible oils in pipelines as well as on ports fell to the lowest level in the past several years, reports the Business Standard from Mumbai dated January 17.   As against the average stock in pipeline for 30 day consumption, the beginning of this month saw the stock fall to a level sufficient only for 22 days. 

According to data from the Solvent Extractors’ Association of India (SEA), the stock of edible oils as on January 1, 2020, at various ports fell to an estimated 860,000 tons (a fifth of this is refined palm oil).  In the last four months, the stock in pipelines is drying up, the report said. The total stock at ports and in pipelines is reported at 1.36 million tons, down 9 percent month-on-month and by a third from the year ago level of 2.03 million tons. India’s monthly requirement is about 1.9 million tons. 

   From January onwards, refined (RBD) palmoil and palmolein imports have been placed under “restricted list” to regulate excessive imports of refined palm oil into India. India largely imports RBD palmolien from Malaysia.