India's Palm Oil Imports Hit Seasonal High in July, Causing Port Congestion

India's palm oil imports surged to 10.81 lakh tonne in July, as per the Solvent Extractors Association (SEA). The imports, slightly less than last year's 10.86 lakh tonne, led to port congestion and delays. Total vegetable oil imports also increased significantly, driven by festive season expectations.

India's palm oil imports reached a seasonal high of 10.81 lakh tonne in July, according to the Solvent Extractors Association (SEA). This seasonal spike resulted in port congestion and berthing delays of 8-10 days, the industry body announced on Wednesday.

The imports were marginally lower than the 10.86 lakh tonne recorded in July 2023, with palm oil comprising 57 percent of the total vegetable oil imports. In total, vegetable oil imports rose to 18.95 lakh tonne in July, up from 17.71 lakh tonne a year ago.

The SEA attributed the 20 percent surge in imports in the third quarter (May-July) to expectations for the upcoming festive season. Consequently, congestion at Kandla port led to berthing delays of 8-10 days.

(With inputs from agencies.)