India's vegetable oils (comprising edible oils and non-edible oils) import decreased 13% year-on-year in February to 9,74,85 tonne as compared to 11,14,481 tonne in the year-ago period. Out of the total imports, the edible oil shipments fell to 9,67,852 tonne last month from 10,98,475 tonne in February 2023. Non-edible oils imports too fell to 7,000 tonne from 16,006 tonne in the year-ago period.
During November 2023-February 2024 period, the overall import of vegetable oils declined 21% to 46,47,963 tonne from 58,87,900 tonne in the corresponding period of the previous oil year. Oil marketing year runs from November to October.
Edible oils import fell to 46,15,551 tonne during the first four months of 2023-24 oil year from 58,44,765 tonne in the year-ago period. Non-edible oils import dropped to 32,412 tonne during November-February period of 2023-24 oil year from 43,135 tonne in the corresponding period of the previous year. India meets more than 50% of its domestic requirements of edible oils through imports.
The country imports palm oil from Indonesia and Malaysia. It imports soyabean oil from Argentina and Brazil. The decline of vegetable oil imports continued in February 2024. The availability of palm oil for edible oil requirements has come down as the main two producers Malaysia and Indonesia are diverting it for the production of biodiesel. Import of soyabean oil from Argentina increased sharply in February 2024, while import from Brazil declined due to growing requirements of the domestic biofuel industry.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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