Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
1 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
As on 21.11.2019
Commodity Profile of Edible Oil for September - 2019
Contents
1. Edible Oil estimates for India (marketing year- November 2018- October 2019) ....................... 2
2. Production Trend of Domestic Oilseeds ....................................................................................... 2
3. Production Trend of Domestic Edible Oils .................................................................................. 3
4. Global & Domestic Production, Exporters and Importers of Major edible oil ............................ 3
5. Global Production Trend of Major Edible Oils ............................................................................ 4
6. Major Exporting and Importing Countries of Edible Oils ............................................................ 6
7. India’s import of major edible oils ............................................................................................. 11
8. India’s top import sources of Palm, Soya and Sunflower Oils ................................................... 12
9. Movement of Domestic and International Edible Oils Prices .................................................... 12
10. Domestic Future price of Soybean and Palm oil……………………………………………….15
11. International Future price of Soybean and Palm oil……………………………………….....15
12. Trade Policy ............................................................................................................................ 16
12.1 Export Policy ....................................................................................................................... 16
12.2 Import Policy ....................................................................................................................... 16
12.3 Duty structure of Edible Oils .............................................................................................. 16
12.4 Status of Edible oils in FTA/FTA ....................................................................................... 16
13. Significant changes in recent month ............................................................................................ 16
2 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
1. Edible Oil estimates for India (marketing year- November 2018- October 2019)
(Unit: Million Tonnes)
Table 1:Production, Stocks, Trade and Availability of Edible Oils
2017-18 2018-19*
July, 2019 Source
10.38 10.06$ Production 10.06$ DSVO
14.59 14.92 Imports 14.10** DOC
24.97 24.98 Availability 24.16
0.84 0.75 Export and Industrial use 0.75 DVVOF
24.13 24.23 Total Available for domestic
consumption 23.41
Source: Directorate of Vanaspati, Vegetable oil and Fats (DVVOF) and Department of
Commerce
$For 2018-19 estimates, figure are as per Directorate of Sugar and Vegetable Oils
*For 2018-19 estimates, Production, Export Industrial use are estimates from DVVOF and Import
is 3 years average from DGCI&S, Kolkata.
**Figure of import is for the period Nov-Sep, 2018-19.
Availability: Domestic production plus Imports;
Total Availability for Domestic Consumption: Availability minus export and Industrial use.
2. Production Trend of Domestic Oilseeds
Source: Directorate of Economics and Statistics
• India’s Soybean production has increased in the last 10 years at CAGR of 3.7 percent.
• Groundnut production is estimated to be 6.69 Million Tonnes in 2018-19 as compared to
9.17 Million Tonnes in 2017-18 showing a fall of around 27%.
0
2
4
6
8
10
12
14
16
Mil
lio
n T
on
nes
Figure 1: Production Trend of Domestic Oilseeds
Groundnut Rapeseed Soyabean Sunflower
3 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
3. Production Trend of Domestic Edible Oils
Source: Directorate of Vanaspati, Vegetable oil and Fats (DVVOF)
• Soybean oil production has increased in the last 10 years at CAGR of 3.7 percent.
• Rapeseed oil production was 2.89 Million MT in 2018-19.
4. Global & Domestic Production, Exporters and Importers of Major edible oil
(Qty in Million MT)
Table 2: Global & Domestic Production, Exporters and Importers of Major Edible Oil
Edible Oil
Global
Production
(2019-20)
India’s
Production
(2019-20)
Major Exporters/ Importers
(2018-19)
Ground nut oil 5.93 1.13 Exporters: Argentina, Brazil, Senegal
Importers: China, Italy, USA
Mustard oil 27.43 2.58 Exporters: Canada, Germany, Russia
Importers: USA, China, Netherland
Sunflower oil 19.86 0.07 Exporters: Ukraine, Russia, Netherland
Importers: India, China, Iran
Soybean oil 57.20 1.75 Exporters: Argentina, Brazil, USA
Importers: India, Bangladesh, Algeria
Palm oil 76.01 0.20 Exporters: Indonesia, Malaysia, Netherland
Importers: India, China, Pakistan
Source: Global Production: USDA, India’s Production: DVVOF, Exporters & Importers: Comtrade
0
0.5
1
1.5
2
2.5
3
3.5
Mil
lio
n T
on
nes
Figure 2: Production Trend of Domestic Edible Oils
Groundnut Oil Rapeseed Oil Soyabean Oil Sunflower Oil
4 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
5. Global Production Trend of Major Edible Oils
A) Groundnut oil
Source: United States Department of Agriculture
• China was the top producer followed by India and Burma in 2018-19.
• India’s share in global production of Groundnut Oil in 2018-19 was around 18 percent.
B) Mustard Oil
Source: United States Department of Agriculture
• European Union (EU) was the top producer followed by China and Canada in 2018-19.
India may be the fourth largest producer.
• India’s share in global production of mustard oil in 2018-19 was around 8 percent.
China India Burma Nigeria Sudan
2018-19 2.79 1.04 0.27 0.27 0.23
2019-20 2.87 1.14 0.27 0.27 0.23
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Mil
lio
n T
on
nn
esFig 3: Production Trend of Groundnut Oil
European Union China Canada India Japan
2018-19 9.74 6.55 4.15 2.58 1.07
2019-20 9.70 6.47 4.20 2.58 1.08
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Mil
lio
n T
on
nes
Fig 4: Production Trend of Mustard Oil
5 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
C) Sunflower Oil
Source: United States Department of Agriculture
• Ukraine was the largest producer followed by Russia and EU in 2018-19.
• India’s share in global production of sunflower oil in 2018-19 was around 5.0 percent.
D) Soybean oil
Source: United States Department of Agriculture
• China, United States, Argentina and Brazil were the key producers of Soybean oil in 2018-
19.
• India’s share in global production of Soybean Oil in 2018 was around 3 percent.
Ukraine Russia European Union Argentina Turkey
2018-19 6.36 4.85 3.72 1.43 0.94
2019-20 6.24 5.12 3.76 1.41 0.90
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
Mil
lio
n T
on
nes
Fig 5: Production Trend of Sunflower Oil
China United States Argentina Brazil European Union
2018-19 15.41 11.12 8.20 8.20 3.10
2019-20 15.41 11.13 8.80 8.39 3.04
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
18.00
Mil
lio
n T
on
nes
Fig 6: Production Trend of Soybean Oil
6 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
E) Palm Oil
Source: United States Department of Agriculture
• Indonesia and Malaysia are major Palm oil producers in the world.
6. Major Exporting and Importing Countries of Edible Oils
A. Groundnut oil
Source: Comtrade
• Argentina and Brazil were the top two exporting countries of Groundnut oil in 2018.
Indonesia Malaysia Thailand Colombia Nigeria
2018-19 41.50 20.50 2.90 1.63 1.02
2019-20 43 20.7 3 1.68 1.015
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
Mil
lio
n T
on
nes
Production Trend of Palm Oil
Argentina Brazil Senegal Nicaragua India
2017 0.083 0.049 0.019 0.019 0.013
2018 0.081 0.063 0.030 0.021 0.017
0.000
0.010
0.020
0.030
0.040
0.050
0.060
0.070
0.080
0.090
Mil
lio
n T
on
nes
Major Exporting Countries of Groundnut Oil
7 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Source: Comtrade
• China and Italy were the major importing countries of groundnut oil in 2018.
B. Mustard oil
Source: Comtrade
• Canada was the largest exporter of Mustard oil in the world followed by Germany and
Russian Federation in 2018.
China ItalyUnited States of
AmericaBenin France
2017 0.11 0.05 0.02 0.02 0.01
2018 0.13 0.05 0.03 0.00 0.01
0.00
0.02
0.04
0.06
0.08
0.10
0.12
0.14
Mil
lio
n T
on
nes
Fig 9: Major Importing countries of Groundnut Oil
Canada GermanyRussian
FederationBelgium Czech Republic
2017 3.10 1.13 0.30 0.36 0.32
2018 3.26 0.90 0.47 0.32 0.26
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Mil
lin
To
nn
es
Fig 10: Major Exporting Countries of Mustard Oil
8 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Source: Comtrade
• The USA and China were the leading importing countries of Mustard oil in the world.
C. Sunflower oil
Source: Comtrade
• Ukraine and Mozambique were the top two global exporters of sunflower oil during 2018.
United States of
AmericaChina Netherlands Norway Belgium
2017 1.99 0.76 0.60 0.46 0.38
2018 1.75 1.30 0.77 0.46 0.36
0.00
0.50
1.00
1.50
2.00
2.50M
illi
on
To
nn
es
Fig 11: Major Importing countries of Mustard Oil
Ukraine MozambiqueRussian
FederationArgentina Netherlands
2017 5.77 1.28 2.33 0.77 0.59
2018 5.59 1.11 2.10 0.71 0.62
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
Mil
lio
n T
on
nes
Major Exporting countries of Sunflower Oil
9 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Source: Comtrade
• India was the largest importer of Sunflower oil followed by China, Italy, and Spain during
2018.
D. Soybean oil
Source: Comtrade
• Argentina was the largest exporting country in the world followed by Brazil, USA and
Paraguay during 2017.
India China Italy Spain Turkey
2017 2.26 0.74 0.55 0.77 0.66
2018 2.43 0.70 0.61 0.52 0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
Mil
lio
n T
on
nes
Fig 13: Major Importing countries of Sunflower Oil
Argentina BrazilUnited States of
AmericaParaguay Netherlands
2017 4.97 1.34 1.07 0.68 0.52
2018 4.23 1.41 1.11 0.70 0.60
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Mil
lio
n T
on
nes
Fig 14: Major Exporting countries of Soybean Oil
10 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Source: Comtrade
• India was the largest importer of soybean oil that constituted 27.89 percent of the global
import in the year 2017.
E. Palm oil
Source: Comtrade
• Indonesia and Malaysia hold both competitive as well as comparative advantage in
exportation of Palm oil in the world.
India China Morocco Peru Colombia
2017 3.34 0.65 0.50 0.45 0.35
2018 2.97 0.55 0.53 0.50 0.34
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00M
illi
on
To
nn
es
Fig 15: Major Importing countries of Soybean Oil
Indonesia Malaysia Netherlands Colombia Germany
2017 22.88 9.88 1.38 0.55 0.38
2018 27.89 13.84 1.34 0.70 0.37
0.00
5.00
10.00
15.00
20.00
25.00
30.00
Mil
lio
n T
on
nes
Fig 16: Major Exporting countries of Palm Oil
11 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Source: Comtrade
• India is the largest importer of Palm oil in the world followed by China, Pakistan and
Netherland.
7. India’s import of major edible oils
(Qty in Lakh Tonnes)
Table 3:India’s Import of Major Edible Oils during 2013-14 to 2018-19
Year Soybean Oil Palm Oil Sunflower Oil Major Edible Oils
Crude Refined Crude Refined Crude Refined Crude Refined
2013-14 13.5 0.0 51.3 25.4 10.8 0.0 75.6 25.5
2014-15 23.2 0.0 69.7 11.9 17.1 0.0 110.0 11.9
2015-16 39.6 0.0 71.1 25.7 14.9 0.0 125.6 25.7
2016-17 34.6 0.0 53.6 29.4 17.3 0.0 105.5 29.4
2017-18 31.5 0.0 67.5 27.7 22.5 0.0 121.5 27.7
2018-19 31.7 0.3 64.2 25.2 25.8 2.0 124.5 25.6
2019-20
(Apr-Sep) 16.8 0.2 30.2 19.0 10.8 0 57.8 19.2
Source: Department of Commerce
(Value in Rs. Crores)
Table 4:India’s Import of Major Edible Oils during 2013-14 to 2018-19 Year Soybean Oil Palm Oil Sunflower Oil Major Edible Oils
Crude Refined Crude Refined Crude Refined Crude Refined
2013-14 8308 0.05 26440 12915 6882 1.62 41630 12917
2014-15 12908 0.11 33055 5839 9552 1.07 55515 5840
2015-16 19419 0.50 27409 10390 8323 1.04 55151 10392
2016-17 18703 3.80 26381 14708 9791 2.41 54875 14714
2017-18 16488 4.20 30851 12804 11857 2.66 59196 12811
2018-19 16373 16.71 25752 10881 13655 2.13 55780 10900
2019-20
(Apr-Sep) 8178 154 10963 7714 5556 1.27 24697 7869
Source: Department of Commerce
• India imports substantial amount of edible oils for its domestic consumption. Among all
edible oils imported into India, Palm oil import share is around 60 percent.
India China Pakistan Netherlands Spain
2017 9.18 5.08 2.77 2.60 1.90
2018 8.81 5.33 2.96 2.60 1.93
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00M
illi
on
To
nn
es
Fig 17: Major Importing countries of Palm Oil
12 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
8. India’s top import sources of Palm, Soya and Sunflower Oils
Table 5: India’s Top Import Sources of Palm, Soya and Sunflower Oils during 2018
Edible Oils Import Source
Soybean Oil Argentina and Brazil
Palm Oil Indonesia and Malaysia
Sunflower Oil Ukraine and Argentina
Source: Department of Commerce
9. Movement of Domestic and International Edible Oils Prices
I. Groundnut oil
Source: Domestic Price Agriwatch and International Price are FAO Prices.
• Domestic prices of Groundnut oil are showing rising trend from August, 2018.
63000
73000
83000
93000
103000
113000
123000
133000
143000
153000
Ap
r-1
2
Au
g-1
2
Dec
-12
Ap
r-1
3
Au
g-1
3
Dec
-13
Ap
r-1
4
Au
g-1
4
Dec
-14
Ap
r-1
5
Au
g-1
5
Dec
-15
Ap
r-1
6
Au
g-1
6
Dec
-16
Ap
r-1
7
Au
g-1
7
Dec
-17
Ap
r-1
8
Au
g-1
8
Dec
-18
Ap
r-1
9
Au
g-1
9
Rs
per
MT
Fig 18: Movement of Groundnut Oil Price
13 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
II. Mustards Oil
Source: Domestic Price Agriwatch and International Price are FAO Prices.
• Domestic price of Mustard Oil is higher than that of International prices throughout the
years.
III. Sunflower oil
Source: Domestic Price Agriwatch and International Price are CIF Ukraine origin Prices.
• Domestic prices of Sunflower oil are higher than the International prices throughout the
period.
48000
53000
58000
63000
68000
73000
78000
83000
88000
93000
Ap
r-1
2
Au
g-1
2
Dec
-12
Ap
r-1
3
Au
g-1
3
Dec
-13
Ap
r-1
4
Au
g-1
4
Dec
-14
Ap
r-1
5
Au
g-1
5
Dec
-15
Ap
r-1
6
Au
g-1
6
Dec
-16
Ap
r-1
7
Au
g-1
7
Dec
-17
Ap
r-1
8
Au
g-1
8
Dec
-18
Ap
r-1
9
Au
g-1
9
Rs
per
MT
Movement of Sunflower Oil Price
Domestic (Chennai, Refined & Expeller with GST) International Sunflower oil (CIF Ukraine Origin)
45,000
55,000
65,000
75,000
85,000
95,000
105,000A
pr-
12
Au
g-1
2
Dec
-12
Ap
r-1
3
Au
g-1
3
Dec
-13
Ap
r-1
4
Au
g-1
4
Dec
-14
Ap
r-1
5
Au
g-1
5
Dec
-15
Ap
r-1
6
Au
g-1
6
Dec
-16
Ap
r-1
7
Au
g-1
7
Dec
-17
Ap
r-1
8
Au
g-1
8
Dec
-18
Ap
r-1
9
Au
g-1
9
Rs
per
MT
Fig 19: Movement of Mustard Oil Price
Domestic (Kota, Expeller without GST) International (Rape oil (Dutch, fob ex-mill)
14 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
IV. Soybean oil
Source: Domestic Price Agriwatch and International Price are CIF Argentina origin Prices.
• Domestic prices of soybean oil are higher than International prices throughout the period.
V. Palm oil
Source: International landing Price at Kandla, Agriwatch.
• International price of palm oils are showing a weak trend.
45000
50000
55000
60000
65000
70000
75000
80000
Ap
r-1
2
Au
g-1
2
Dec
-12
Ap
r-1
3
Au
g-1
3
Dec
-13
Ap
r-1
4
Au
g-1
4
Dec
-14
Ap
r-1
5
Au
g-1
5
Dec
-15
Ap
r-1
6
Au
g-1
6
Dec
-16
Ap
r-1
7
Au
g-1
7
Dec
-17
Ap
r-1
8
Au
g-1
8
Dec
-18
Ap
r-1
9
Au
g-1
9
Rs
per
MT
Fig 21: Movement of Soybean Oil Price
Domestic (Indore, Refined without GST) International(Soya oil CIF Argentina origin)
45000
50000
55000
60000
65000
70000
Rs
per
To
nn
es
Fig 22: Movement of Palm Oil Price
Palm Oil International prices at Kandla 5% FFA
15 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
10. Domestic future prices of Crude Soya bean and Crude Palm oil
Unit: Rs/Quintal
Table – 6: Soya bean oil Future Prices
Contract
Month
As on
14.11.2019
Week
ago
7.11.2019
Month
ago
14.10.2019
3 Months
ago
14.8.2019
6 Months
ago
14.5.2019
Year
ago
14.11.2018
% Change
over
previous
year
Nov,19 7,998.00 7,885.00 7,544.00 7,487.00 7,220.50 7,437.00 7.54
Dec,19 8,037.50 7,917.00 7,553.50 7,487.00 7,220.50 7,368.00 9.09
Jan,20 8,046.00 7,927.00 7,557.50 7,487.00 0.00 7,377.00 9.07
Source: National Commodity & Derivatives Exchange Limited
• Domestic future price for Crude Soya bean oil is expected to increase over the price in
previous year.
Unit: Rs/Quintal
Table – 7: Crude Palm oil Future Prices
Contract
Month
As on
14.11.2019
Week ago
7.11.2019
Month
ago
14.10.2019
3 Months
ago
14.8.2019
6 Months
ago
14.5.2019
Year
ago
14.11.2018
% Change
over
previous
year
Nov,19 6,459.00 6,198.00 5,482.00 5,570.00 0.00 5,287.00 22.17
Dec,19 6,504.00 6,227.00 5,514.00 5,590.00 0.00 5,295.00 22.83
Jan,20 6,456.00 6,194.00 5,510.00 0.00 0.00 5,333.00 21.06
Source: Multi Commodity Exchange of India Ltd
• Domestic future price for Crude Palm oil is expected to increase over the price in previous
year.
11. International future prices of Soya bean and Crude Palm Oil
Unit: USD/Ton
Table – 8: Soya bean Oil Future Prices
Contract
Month
As on
14.11.2019
Week ago
7.11.2019
Month
ago
14.10.2019
3 Months
ago
14.8.2019
6 Months
ago
14.5.2019
Year
ago
14.11.2018
% Change
over
previous
year
Dec,19 678.58 692.91 661.38 651.46 610.67 607.81 11.64
Jan,20 682.76 697.76 666.67 656.75 615.30 612.44 11.48
Mar,20 688.72 703.49 672.62 662.70 621.70 618.83 11.29
May,20 695.99 710.32 679.24 668.88 589.29 625.67 11.24
Source: CME Soybean Oil Prices
• International future prices of Soya bean are expected to increase over the last year.
16 | C o m m o d i t y P r o f i l e o f E d i b l e O i l f o r S e p t e m b e r - 2 0 1 9
Unit: USD/Ton
Table – 9: Crude Palm Oil Future Prices
Contract
Month
As on
30.8.2019
Week ago
23.8.2019
Month
ago
30.7.2019
3 Months
ago
30.5.2019
6 Months
ago
28.2.2019
Year ago
30.8.2018
% Change
over
previous
year
Dec,19 615.83 598.46 516.28 540.28 516.91 440.34 39.85
Jan,20 627.38 610.52 527.76 545.30 529.62 470.38 33.38
Feb,20 633.87 617.04 538.54 548.89 538.98 486.59 30.27
Source: BMD Malaysian Palm Oil Prices
• International future prices of Palm oil are expected to increase over the last year prices.
12. Trade Policy
12.1 Export Policy
At present, export of all varieties of edible oils is free, except mustard oil. Export of mustard
oil in branded consumer packs of upto 5 Kgs is permitted with a Minimum Export Price of USD
900 per MT. (DGFT’s Notification No 01/2015-202 dated 16th April, 2018)
12.2 Import Policy
At present, import of all varieties of edible oils is free without any quantitative restriction.
12.3 Duty structures of Edible oils
Major Edible oils Bound Duty Applied Duty
Crude Refined
Palm Oil 300% 44% 54%
Remaining Edible Oils 45/75/100/300% 35% 45% (except Olive Oil- 40%)
12.4 Status of Edible oils in different FTA/PTA
Major Edible oils Status in Major FTA/PTA
ASEAN Malaysia CECA
Palm Oil Crude- 40% and Refined- 50% Crude- 40% Refined- 50%*
Remaining Edible Oils No Duty Concession (except Olive Oil - 0%)
Source: DoC, Department of Revenue, Government of India and WTO
*After imposition of safeguard measures by DGTR vide Notification No 29/2019-Cutoms dated 04-09-2019
13. Significant Changes in recent month
• Hike in import duty on refined palm oil sourced from Malaysia from 45% to 50%.
• Tariff-rate Quota (TRQ) for import of 30,000 MT of crude soya oil from Paraguay under
India-Mercosur Trade Agreement at import duty of 10%.
Disclaimer: The information and opinions contained in the document have been compiled from
various sources believed to be reliable. This Department will not be liable for any losses and
damages in connection with the uses of the information provided in the commodity profile.