The total volume of vegetable oils and fats imports to India in 2022 will decrease by 2% year-on-year to 13.8 million tons, experts say. This was reported on Thursday by analysts from the Malaysian Palm Oil Council (Malaysian Palm Oil Council-MPOC). At the same time, the supply of palm oil is expected to decline the most, representatives of the organization said.
“The decline is due to the growth of domestic production of edible oil in India as well as the fact that the outbreak of coronavirus infection is causing new constraints that are seriously affecting logistics,” MPOC CEO Van Aisha Van Hamid said at the conference.
India’s palm oil imports are expected to fall to 8.1 million tons in 2022 from 8.5 million tons last year.
Purchases of soybean and sunflower oil to India are expected to increase by 100,000 tons in 2022.
India is the largest buyer of vegetable oil in the world, importing about 13-14 million tons of this product annually. The share of palm oil is usually about 60-65%. In 2020/21 MJ, it was 63%.
According to the Solvent Extractors’ Association of India (SEA), soybean oil imports are increasing due to lower domestic production.
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