According to Indian Vegetable Oil Producers Association (IVPA) India’s vegetable oil imports is expected to decline to 16.2 million tons in 2023-24 from 17.06 million tons in 2022-23. The share of palm oil imports is likely to decline from 60% to 54% due to low spread with soft oils. Edible oil consumption is expected to increase by 3.3%, Sudhakar Desai, Chief Exceutive Officer of Emami Agrotech Ltd and President of IVPA, said the share of palm oil in total imports is excuted to decline from 60% in 2022-23 to 54% in 2023-24 due to very low spread with soft oils in the seminar in Kuala-lampur on Monday according to the news sources. India reduced import of Soybean Oil in January to March period due to lack of hedging tool, he said it is expected to increase in April to September as many players attempted to lock the negetive forward soyabean oil palm spread continues to be zero for longer then palm oil share can drop to 50%. Soya- Palm oil spread was more than $ 400 a year ago. Desai esti- mated CPO price outlook at $ 900-940 per ton (C & F) for April -June and at $ 840-900 per ton (C & F) for July-Sept. He estimated Soybean oil at $ 900-960 (c&f) per ton for April-Sept and Sunflower oil at $ 890-940 per
ton for April-June, $ 900-950 for July- Sept. He projected domestic vegetable oil availability at 9.23 million tons during 2023-24 as against 9.07 million tons in 2022-23.