The data highlights a decline in the import of edible oils into India for the 2023-24 marketing season (November-October), showing a reduction of 5.10 lakh tonnes compared to the previous season. Here's a breakdown of the key points:

Import Trends:

• Total Edible Oil Imports:
  • 2023-24: 159.60 lakh tonnes, down from 164.70 lakh tonnes in 2022-23.
  • This decrease is part of a broader trend where imports of edible oils have fluctuated over the last few years, with 140.30 lakh tonnes in 2021-22 and 131.30 lakh tonnes in 2020-21.
• Value of Imports:
  • The cost of these imports also declined. The total expenditure in Indian currency dropped from ₹1,38,424 crore in 2022-23 to ₹1,31,967 crore in 2023-24. In dollar terms, the value fell from $16.65 billion to $15.90 billion.

Breakdown of Oil Types:

• Palm Oil: The largest share of imports came from palm oils, including:
  • Crude Palm Oil (CPO): 69.70 lakh tonnes in 2023-24, down from 75.88 lakh tonnes in the previous season.
  • RBD Palmolein: 19.31 lakh tonnes in 2023-24, down from 21.07 lakh tonnes in 2022-23.
  • Palm Kernel Oil: 1.14 lakh tonnes in 2023-24, down from 0.94 lakh tonnes in 2022-23.
• Soft Oils:
  • Soybean Oil: 34.41 lakh tonnes in 2023-24, slightly lower than the 36.76 lakh tonnes in 2022-23.
  • Sunflower Oil: 35.06 lakh tonnes in 2023-24, up from 30.01 lakh tonnes in 2022-23.

Long-Term Trends:

• Over the last five years, the total import of edible oils has grown from 132 lakh tonnes to 160 lakh tonnes, with notable increases in RBD palmolein and palm group oils.
  • RBD palmolein imports surged from 4.21 lakh tonnes in 2019-20 to 19.31 lakh tonnes in 2023-24.
  • The total import of palm group oils (including CPO and RBD palmolein) rose from 72 lakh tonnes to 90.20 lakh tonnes during this period.

Stock at Ports:

• On November 1, 2024, the edible oil stock at Indian ports stood at 24.08 lakh tonnes, the lowest since May 2024.
  • Of this, 6.57 lakh tonnes were in the pipeline.
  • The stocks were broken down into:
    • 2.59 lakh tonnes of crude palm oil.
    • 1.01 lakh tonnes of RBD palmolein.
    • 1.33 lakh tonnes of soybean oil.
    • 1.64 lakh tonnes of sunflower oil.

Monthly Demand:

• India typically requires about 21 lakh tonnes of edible oil per month, with stocks kept for 30-35 days of demand. The lower stock levels indicate that imports may need to be ramped up in the near future to meet ongoing demand.

Implications:

• The reduction in edible oil imports could be a result of multiple factors including domestic production adjustments, shifting consumer preferences, or global price changes.
• The current lower stock levels at ports might signal future supply challenges or increased pressure on the edible oil market, especially given the strong demand.

This trend also suggests that while India continues to rely heavily on palm oils (especially crude palm oil and RBD palmolein), the import of soft oils like soybean and sunflower oil remains significant, with some variations in import quantities from season to season.