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Mint
14-07-2025
- Business
- Mint
Indias vegetable oil imports flat in June despite tariff cut boost to crude oils
New Delhi, Jul 14 (PTI) India's vegetable oil imports remained flat at 15.49 lakh tonnes in June compared to the same month last year, even as shipments of crude edible oils surged more than 25 per cent, industry body Solvent Extractors Association (SEA) said on Monday. The rise in crude oil shipments came after the government reduced the Basic Customs Duty (BCD) on crude edible oils, including crude palm oil, crude soybean oil, and crude sunflower oil, to 10 per cent from 20 per cent, effective May 31. Total vegetable oils, comprising both edible and non-edible oils, stood at 15.50 lakh tonnes in June 2024. In the edible oil category, barring crude sunflower oils, imports of other crude edible oil variants rose 25.64 per cent to 11.51 lakh tonnes in June from 9.16 lakh tonnes a year earlier. However, crude sunflower oil shipments declined 53.58 per cent to 2.61 lakh tonnes in June from the year-ago period. According to SEA data, crude palm oil (CPO) imports rose 23.55 per cent to 7.88 lakh tonnes in June from 6.37 lakh tonnes a year earlier, while crude soybean oil imports increased 30.39 per cent to 3.59 lakh tonnes from 2.75 lakh tonnes. Crude Palm Kernel Oil (CPKO) imports rose 33.33 per cent to 4,000 tonnes in June from 3,000 tonnes in the year-ago period. Total imports of crude edible oils (CPO, CPKO, crude sunflower and crude soybean oils) stood at 11.51 lakh tonnes in June. Among refined edible oils, RBD palmolein imports rose to 1.63 lakh tonnes in June against 1.45 lakh tonnes a year earlier. Non-edible oil imports fell to 18,497 tonnes in June from 23,178 tonnes in June 2024. SEA said agencies, including NAFED, HAFED and NCDEX, are currently holding approximately 14 lakh tonnes of soybean and a similar quantity of rapeseed. "In view of the rising prices of edible oils, the Government of India may consider releasing a substantial quantity of these stocks into the market over the next three months, ahead of the upcoming harvest," SEA said. With the kharif soybean crop harvest expected in just two and a half months, early liquidation of these stocks will help stabilise prices during the festive season, the industry body added. "Timely action will not only benefit consumers but also ease the financial and logistical burden on government agencies, while supporting overall domestic availability of edible oils," SEA said. India, the world's largest edible oil consumer and importer, had edible oil stocks of 15.68 lakh tonnes as of July. In the first eight months of the oil year 2024-25 (November 2024-June 2025), total vegetable oil imports reached 94.34 lakh tonnes, down 8 per cent from 102.29 lakh tonnes in the same period last year.
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Business Standard
14-07-2025
- Business
- Business Standard
Vegetable oil imports flat in June despite tariff cut boost to crude oils
India's vegetable oil imports remained flat at 1.54 million tonnes in June compared to the same month last year, even as shipments of crude edible oils surged more than 25 per cent, industry body Solvent Extractors Association (SEA) said on Monday. The rise in crude oil shipments came after the government reduced the Basic Customs Duty (BCD) on crude edible oils, including crude palm oil, crude soybean oil, and crude sunflower oil, to 10 per cent from 20 per cent, effective May 31. Total vegetable oils, comprising both edible and non-edible oils, stood at 1.55 million tonnes in June 2024. In the edible oil category, barring crude sunflower oils, imports of other crude edible oil variants rose 25.64 per cent to 1.15 million tonnes in June from 916,000 tonnes a year earlier. However, crude sunflower oil shipments declined 53.58 per cent to 261,000 tonnes in June from the year-ago period. According to SEA data, crude palm oil (CPO) imports rose 23.55 per cent to 788,000 tonnes in June from 637,000 tonnes a year earlier, while crude soybean oil imports increased 30.39 per cent to 359,000 tonnes from 275,000 tonnes. Crude Palm Kernel Oil (CPKO) imports rose 33.33 per cent to 4,000 tonnes in June from 3,000 tonnes in the year-ago period. Total imports of crude edible oils (CPO, CPKO, crude sunflower and crude soybean oils) stood at 1.15 million tonnes in June. Among refined edible oils, RBD palmolein imports rose to 163,000 tonnes in June against 1.45 lakh tonnes a year earlier. Non-edible oil imports fell to 18,497 tonnes in June from 23,178 tonnes in June 2024. SEA said agencies, including NAFED, HAFED and NCDEX, are currently holding approximately 1.4 million tonnes of soybean and a similar quantity of rapeseed. "In view of the rising prices of edible oils, the Government of India may consider releasing a substantial quantity of these stocks into the market over the next three months, ahead of the upcoming harvest," SEA said. With the kharif soybean crop harvest expected in just two and a half months, early liquidation of these stocks will help stabilise prices during the festive season, the industry body added. "Timely action will not only benefit consumers but also ease the financial and logistical burden on government agencies, while supporting overall domestic availability of edible oils," SEA said. India, the world's largest edible oil consumer and importer, had edible oil stocks of 1.56 million tonnes as of July. In the first eight months of the oil year 2024-25 (November 2024-June 2025), total vegetable oil imports reached 9.43 million tonnes, down 8 per cent from 10.22 million tonnes in the same period last year. Indonesia and Malaysia are the major palm oil suppliers to India, while Argentina, Brazil and Russia supply soybean oil. Russia and Ukraine are the main suppliers of sunflower oil. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
11-07-2025
- Business
- Time of India
Edible oil body SEA urges govt to allow coconut oil imports amid price surge
Solvent Extractors Association (SEA) on Friday urged the government to allow short-term imports of coconut oil and copra to tackle domestic price volatility , as coconut oil prices have tripled in the past year. The industry body requested that the government take urgent action by permitting imports for an interim period of 6-12 months to manage the current crisis and retain consumer interest in coconut oil. "We request the government to take urgent actions to address this situation by allowing the import of copra and coconut oil for the interim period," SEA said in a representation to concerned ministries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Malaysia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo Coconut oil prices have surged to over Rs 400 per kg at the wholesale level from around Rs 130 a year ago, prompting consumers to shift to alternative oils like palm and sunflower. The association said India's coconut production has been under stress for two years due to pest attacks, resulting in a 40 per cent drop in yields. Live Events "This demand for coconut oil may shift permanently," SEA warned, noting that consumer movement away from coconut oil could adversely impact prices of other edible oils and increase import dependency. The body flagged concerns to Agriculture Minister Shivraj Singh Chouhan, Commerce Minister Piyush Goyal and Food and Consumer Affairs Minister Pralhad Joshi. SEA said the measure would not adversely impact farmers but would stabilise prices and support them long-term. It noted that imported oil with duties would still cost the same as domestic prices, but increased availability would ease supply stress. Kerala, a prime consumer market, is showing signs of turning away from coconut oil due to soaring prices. The association also warned that adulteration is becoming rampant due to higher prices, eroding trust in coconut oil. "Once consumers move out of a particular oil, it is known to be difficult to get the demand back, and this has been witnessed in the past in other indigenous oils like groundnut oil," SEA said.
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Business Standard
11-07-2025
- Business
- Business Standard
Edible oil body SEA urges govt to allow coconut oil imports as prices surge
Solvent Extractors Association (SEA) on Friday urged the government to allow short-term imports of coconut oil and copra to tackle domestic price volatility, as coconut oil prices have tripled in the past year. The industry body requested that the government take urgent action by permitting imports for an interim period of 6-12 months to manage the current crisis and retain consumer interest in coconut oil. "We request the government to take urgent actions to address this situation by allowing the import of copra and coconut oil for the interim period," SEA said in a representation to concerned ministries. Coconut oil prices have surged to over Rs 400 per kg at the wholesale level from around Rs 130 a year ago, prompting consumers to shift to alternative oils like palm and sunflower. The association said India's coconut production has been under stress for two years due to pest attacks, resulting in a 40 per cent drop in yields. "This demand for coconut oil may shift permanently," SEA warned, noting that consumer movement away from coconut oil could adversely impact prices of other edible oils and increase import dependency. The body flagged concerns to Agriculture Minister Shivraj Singh Chouhan, Commerce Minister Piyush Goyal and Food and Consumer Affairs Minister Pralhad Joshi. SEA said the measure would not adversely impact farmers but would stabilise prices and support them long-term. It noted that imported oil with duties would still cost the same as domestic prices, but increased availability would ease supply stress. Kerala, a prime consumer market, is showing signs of turning away from coconut oil due to soaring prices. The association also warned that adulteration is becoming rampant due to higher prices, eroding trust in coconut oil. "Once consumers move out of a particular oil, it is known to be difficult to get the demand back, and this has been witnessed in the past in other indigenous oils like groundnut oil," SEA said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
22-04-2025
- Business
- Time of India
India should restore soybean exports to US in bilateral trade talks: SEA
NEW DELHI: India should prioritise reviving exports of organic non-GMO soybean and soybean meal to the United States during ongoing Bilateral Trade Agreement (BTA) negotiations, industry body Solvent Extractors Association (SEA) said on Monday. India previously exported 150,000-200,000 tonnes of organic, non-GMO soybean products to the US before safeguard duties imposed after opposition from domestic US producers effectively halted this trade, according to SEA. "It is essential that the Ministry of Commerce pursues the revival of these exports as part of the ongoing BTA discussions," SEA President Sanjeev Asthana said in a statement. The two countries are currently negotiating a bilateral trade agreement that includes discussions on key agricultural commodities such as soybean and maize. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover how to go from draft to done in a few clicks—not a few hours. Grammarly Install Now Undo SEA also raised concerns about non-standardised packaging of edible oils following regulatory changes in 2022, saying varied pack sizes like 800 gram, 810 gram and 850 gram have created consumer confusion and price comparison difficulties. The industry body has urged the Ministry of Consumer Affairs to reinstate standardised packaging requirements for edible oils to improve transparency and consumer trust. Live Events
