India’s edible oil import for MY 2022-23 to touch 15 MMT: IVPA
According to the Indian Vegetable Oil Producers’ Association (IVPA), India is likely to import around 14.37 million tonne (mt) of vegetable oil during the current oil year (October 2022-September 23) against 14.07 mt in 2021-22. IVPA president Mr. Sudhakar Desai also added that palm oil import could be in the range of 9.3 mt in 2022-23 against 7.99 mt in 2021-22. He estimated the import of soyabean oil at 3.01 mt during 2022-23 (4.05 mt in 2021-22) and sunflower oil at 2.01 mt (1.93 mt). Sunflower oil import is anticipated to be good in the short-term due to TRQ (tariff rate quota) ending with effect from April 2023.
He further said that domestic production of vegetable oils will go up to 9.68 mt in 2022-23 against 9.06 mt in 2021-22 due to an increase in the production of soyabean and mustard crops.
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