India's edible oil stock stable to meet demand
Friday, 16 July 2010
MUMBAI, July 15 (Commodity Online): The recent edible oil imports data has showed that India's edible oil stocks position has increased significantly to meet the domestic demand.
Edible oil import by India, the second largest edible oil importer after China, fell by 6.2 per cent in June to 732,232 metric tonnes as against the last year in the correspondent period, said Solvent Extractors' Association (SEA).
SEA attributed to the higher production along with steady import in the previous months and large stocks at ports for the decline in edible oil import in June.
The trade body said total edible oil stocks at ports were estimated at 550,000 tonnes as of July 1, which comprises 270,000 tonnes of crude palm oil, 65,000 tonnes of refined, bleached and deodorised palm olein, 160,000 tonnes of soyoil and 60,000 tonnes of sunflower oil.
Edible oil import by India, the second largest edible oil importer after China, fell by 6.2 per cent in June to 732,232 metric tonnes as against the last year in the correspondent period, said Solvent Extractors' Association (SEA).
SEA attributed to the higher production along with steady import in the previous months and large stocks at ports for the decline in edible oil import in June.
The trade body said total edible oil stocks at ports were estimated at 550,000 tonnes as of July 1, which comprises 270,000 tonnes of crude palm oil, 65,000 tonnes of refined, bleached and deodorised palm olein, 160,000 tonnes of soyoil and 60,000 tonnes of sunflower oil.