India: decline in import of vegetable oils is expected

15 Sep, 2017
India: decline in import of vegetable oils is expected
In 2017 – 2018 India will decrease import of vegetable oils for the first time in the last 7 years due to good crop.

The decline in import is expected in early 2018, because farmers expect higher prices for their oil crops and slow down sales.

Reduced purchases from India will put pressure on global oil markets.

In the new marketing year, oil import will reach 15.13 million tonnes, which is 70,000 tonnes less than the current year.

At the beginning of 2017 - 2018. soybean stocks in India reach about 1.16 million tonnes at 440,000 tonnes a year earlier.

Crop of all oil crops in India in the new season will be 33.65 million tonnes, which is the second result for the last four years.