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India will reduce the purchase of vegetable oils
Import of vegetable oils in India will be reduced to 2%, analysts expect
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Projections of lower imports of vegetable oils by India at the end of 2016/17 MG persist, according to Ruchi Soya Industries, by the end of October the volume of imports of these products in the country will amount to 14.3 million tons, up 300 thousand tons (2%) far behind than last season, according to Freight News.

As noted, the reduction in import dependence of India associated with the growth of their own crops of oilseeds in 2016, which according to forecasts, will increase their stocks to 38.2 million tonnes (+20% per year) and activates the internal processing.

The largest decline in import volumes is expected in the segment of soybean oil – 17% per year to 3.5 million tons. This reduction is explained in greater attractiveness for importers of sunflower oil, the price of which the Indian ports in June were on average $9 per ton lower compared to soybean, whereas last year, according to the SEA, oil was at $99 per ton more expensive.

In this regard, it is expected by the end of 2016/17 MG growth of imports of sunflower oil to India by 33% in the year to 2 million tons. The import of palm oil, which is about half of the total volume of import will amount to approximately 8.5-8.7 million tons against of 8.44 million tons in 2015/16.

Photo: in.all.biz



Translated by service "Yandex.Translation"
Источники: АПК-Информ
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