FNB News - April 2017 veg oil import 1,339,489 tons, up by 7% vis-a-vis April ’16

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OILS AND FATS

April 2017 veg oil import 1,339,489 tons, up by 7% vis-a-vis April ’16

Friday, 19 May, 2017, 08 : 00 AM [IST]

Our Bureau, Mumbai

The Solvent Extractors’ Association of India (SEA) has compiled the import data of vegetable oils (edible and non-edible) for April 2017. The import of vegetable oils during April 2017 was reported at 1,339,489 tons compared to 1,248,887 tons in April 2016 (i e up by seven per cent). These consist of 1,324,014 tons of edible oils and 15,475 tons of non-edible oils.

The import during April 2017 was the highest monthly import during the current oil year. The overall import of vegetable oils during the first six months of the current oil year 2016-17 (i e the period between November 2016 and April 2017) was reported at 7,134,265 tons compared to 7,568,709 tons (i e lesser by six per cent).

Import of vegetable oil (edible and non-edible) between November 2016 and April 2017 (Quantity in million tons)

Month	2016-17			2015-16			Percentage change
Month	Edible	Non-edible	Total	Edible	Non-edible	Total	Percentage change
November 2016	11,55,863	19,601	11,75,464	13,32,936	4,499	13,37,435	(-) 12%
December2016	11,74,296	35,389	12,09,685	14,09,435	11,467	14,20,902	(-) 15%
January 2017	10,08,085	16,774	10,24,859	12,55,054	3,000	12,58,054	(-) 19%
February 2017	12,34,255	36,188	12,70,443	10,96,424	16,492	11,12,916	(+) 14%
March 2017	10,97,876	16,449	11,14,325	11,76,312	14,203	11,90,515	(-) 6%
April 2017	13,24,014	15,475	13,39,489	12,36,068	12,819	12,48,887	(+) 7%
Total	69,94,389	1,39,876	71,34,265	75,06,229	62,480	75,68,709	(-) 6%

Stock position at ports and in pipelines
The stock of edible oils as on May 1, 2017 at various ports is estimated at 7,85,000 tons [which comprises CPO 2,10,000 tons, RBD palmolein 1,40,000 tons, degummed soybean oil 2,10,000 tons, crude sunflower oil 2,10,000 tons and 15,000 tons of rapeseed (canola) oil] and about 1,335,000 tons in pipelines.

Total stock at ports and in pipelines increased to 21,20,000 tons from 19,13,000 tons in April 2017. The overall stock as on May 1, 2017 has increased by 2,07,000 tons compared to April 2017. India’s monthly requirement is about 16.50 lakh tons and operates at 30 days stock, against which currently the holding stock is over 21.20 lakh tons equal to 39 days’ requirements.

Stock position at ports and pipelines (Quantity in ’000 metric tons)

	May 1, 2017	April 1, 2017	March 1, 2017	February 1, 2017	January 1, 2017	December 1, 2016	November 1, 2016	October 1, 2016	September 1, 2016	August 1, 2016	July 1, 2016	June 1, 2016	May 1, 2016
Port stock	785	688	775	642	695	655	705	860	755	770	878	865	940
Pipe lines	1,335	1,225	1,190	1,088	1,150	1,170	1,230	1,230	1,300	1,380	1,442	1,465	1,500
Total stock	2,120	1,913	1,965	1,730	1,845	1,825	1,935	2,090	2,055	2,150	2,320	2,330	2,440

Import of refined and crude oil ratio
Between November 2016 and April 2017, the import of refined oil (RBD palmolein) has increased to 1,367,951 tons from 1,325,630 tons in the corresponding period last year, while the import of crude oil decreased to 56,26,438 tons from 61,80,599 tons during the corresponding period of last year.

Import of refined and crude edible oils (ratio) between November 2016 and April 2017 (Quantity in million tons)

Year (November-October)	Refined oils	Percentage	Crude oils	Percentage	Total
November 2016	2,40,948	21%	9,14,915	79%	11,55,863
December 2016	2,45,554	21%	9,28,742	79%	11,74,296
January 2017	1,96,623	20%	8,11,462	80%	10,08,085
February 2017	2,33,313	19%	10,00,942	81%	12,34,255
March 2017	2,19,270	20%	8,78,606	80%	10,97,876
April 2017	2,32,243	18%	10,91,771	82%	13,24,014
(November 2016-April 2017) (November 2015-April 2016)	13,67,951 13,25,630	20% 18%	56,26,438 61,80,599	80% 82%	69,94,389 75,06,229
2015-16	26,23,002	18%	1,19,48,336	82%	1,45,71,338
2014-15	16,59,070	12%	1,27,62,201	88%	1,44,21,271
2013-14	15,76,354	14%	1,00,41,980	86%	1,16,18,334

Import of palm and soft oil ratio
Between November 2016 and April 2017, palm oil import has decreased to 43,02,135 tons from 43,40,890 tons during the corresponding period last year. However overall share of palm oil products increased to 62 per cent from 58 per cent, thanks to larger import of RBD palmolein.

Soft oils import reduced to 26,92,254 tons from 31,65,339 tons last year. However, within soft oils, the import of sunflower oil has sharply increased at the cost of soybean oil.

Import of palm oil and soft oil (ratio) between November 2016 and April 2017 (Quantity in metric tonnes)

Year (November-October)	Palm oil		Soft oil					Percentage	Total
	(RBD palmolein + CPO + crude olein + CPKO)		Soybean	Sunflower	Rape	Safflower	Total	Percentage	Total
November 2016	8,01,311	69%	1,64,286	1,58,071	32,195	-	3,54,552	31%	11,55,863
December 2016	7,23,158	62%	2,32,132	1,85,824	33,182	-	4,51,138	38%	11,74,296
January 2017	6,08,762	60%	1,66,573	2,14,872	17,878	-	3,99,323	40%	10,08,085
February 2017	7,36,207	60%	2,51,740	2,09,422	36,886	6,090	4,98,048	40%	12,34,255
March 2017	6,80,065	62%	2,29,853	1,81,868	-	-	4,17,811	38%	10,97,876
April 2017	7,52,632	57%	3,04,942	2,34,516	31,924	6,090	5,71,382	43%	13,24,014
November 2016-April 2017 November 2015-April 2016	4,302,135 4,340,890	62% 58%	1,349,526 2,241,045	1,184,573 7,71,088	1,52,065 1,53,206	-	2,692,254 3,165,339	38% 42%	69,94,389 75,06,229
2015-16	84,42,840	58%	42,34,809	15,16,220	3,77,469	-	61,28,498	42%	1,45,71,338
2014-15	95,36,904	66%	29,85,944	15,42,599	3,55,824	-	48,84,367	34%	1,44,21,271
2013-14	79,57,960	68%	19,51,233	15,09,250	1,99,891	-	36,60,374	32%	1,16,18,334

Average prices and rupee depreciation
From April 2016 onwards, the landed price of RBD palmolein has remained the same or lower than that of CPO, encouraging larger import of RBD palmolein at the cost of CPO. The spread between palm oil and soft oil also reduced encouraging larger import of soft oils. Also, importers continues to make larger import purchases of sunflower oil, taking advantage of attractive price vis-à-vis soybean oil. Also, the strengthening of rupee in the last three months supported the import of vegetable oils.

(Price in $/CIF Indian Port/Ton)

Oils	April 2017	March 2017	February 2017	January 2017	December2016	November 2016	October 2016	September2016	August 2016	July 2016	June 2016	May 2016	April 2016
RBD palmolein	705	731	773	788	773	729	709	759	735	643	669	708	739
Crude palm oil	706	734	783	794	772	729	704	753	730	642	669	706	738
Crude soybean oil	756	767	812	857	887	844	827	803	804	751	768	775	790
Crude sunflower oil	783	791	814	824	836	826	834	843	845	848	867	878	864
FE: $1 = (Average)	64.53	65.8	66.97	68.04	67.8	67.64	66.74	66.71	66.9	67.15	67.27	66.89	66.42

Import of non-edible oils
Import of non-edible oils between November 2016 and April 2017 is reported at 1,39,876 tons compared to 62,480 tons during the corresponding period last year. P F A D, P K F A D, C P S & RBD palm sterin are the major import of non-edible oils.