The Solvent Extractors’ Association of India (SEA) hopes that Indonesia would possible lift the ban on export of crude and RBD (refined, bleached, deodorised) palm oil by the top of this month.
During a presentation on India’s means to satisfy its edible oil requirement, on the Globoil International 2022 organised in Dubai by Tefla’s below the patronage of SEA, BV Mehta, Executive Director of SEA, stated Indonesia was anticipated to lift the ban earlier than the top of May. The scenario will flip ugly if Indonesia extends the ban on export of palm merchandise as there may be not sufficient provide from different origins, he stated.
India imports about 6.5 lakh tonnes (lt) of palm oil a month from Indonesia, Malaysia, Thailand and different nations. Indonesia and Malaysia provide round 3 lt every..
Mehta stated India has raised its considerations on the World Trade Organisation (WTO) over a number of commerce obstacles constructed by Indonesia, together with export restrictions on palm oil and import curbs on bovine meat and automotive elements, as these have adversely impacted India.
Edible oil import
He stated India imported 6.54 million tonnes (mt) of edible oils within the first six months of the oil yr 2021-22 (November to April), up by 4.3 per cent from the earlier yr.
He stated that imports are prone to stay within the vary of 12.5-13 mt through the present oil yr 2021-22 attributable to elements akin to report harvest of rapeseed/ mustard, improved availability of home oils, fall in demand attributable to excessive costs and the traditional monsoon forecast.
On the affect of the Russia-Ukraine battle on sunflower oil, he stated India imported round 1.12 mt of sunflower oil primarily from Ukraine, Russia and Argentina through the first six months of the oil yr 2021-22. Only 57,000 tonnes was imported in April. There has been no cargo from Ukraine since March 27.
He stated excessive costs of sunflower oil within the worldwide market, diminished availability, and excessive home costs have shrunk its consumption in India. The shortfall is partially offset by different edible oils akin to palmolein, soyabean oil, groundnut oil and rice bran oil.
To scale back dependence on imports, India should step up oilseeds manufacturing from 30 mt to 45 mt by 2025-26, and 60 mt by 2030-31, Mehta stated. This will assist reduce imports from 65 per cent to 10-15 per cent within the subsequent 10 years.
The Government ought to present thrust to the National Mission on Oilseeds with enough funding. High oil-bearing seeds akin to mustard, groundnut and sunflower might be the sport changer on this regard.
He advised rising groundnut as an intercrop with castor and different crops. Crop diversification in Punjab and Haryana, from wheat to mustard, will ease the edible oil scarcity to some extent.
With these steps, India can produce 18-19 mt of edible oils by 2026, he stated.
May 11, 2022