Solvent Extractors' Association of India (SEA) said that India's import of edible oils fell 29 per cent annually in September to 10,64,499 tonnes due to lower inward shipments of crude and refined palm oils. Import of edible oils stood at 14,94,086 tonnes in the same month last year.
Imports of non-edible oils fell to 22,990 tonnes in September from 57,940 tonnes in the year-ago period. Import of vegetable oils in September declined 30 per cent to 10,87,489 tonnes compared to 15,52,026 tonnes a year earlier. According to SEA data, refined palm oil shipments were down to 84,279 tonnes from 1,28,954 tonnes. Imports of crude sunflower oil also declined to 1,52,803 tonnes from 3,00,732 tonnes.
The overall import of vegetable oils during the first 11 months of the current 2023-24 marketing year ending October declined 6 per cent to 1,47,75,000 tonnes as compared to 1,56,73,102 tonnes in the corresponding period of the previous year. Of the total vegetable oil imports so far in 2023-24 marketing year, the imports of edible oil fell to 1,45,35,955 tonnes from 1,54,68,912 tonnes. Imports of non-edible oils rose to 2,39,045 tonnes from 2,04,190 tonnes.
India imports palm oils from Indonesia and Malaysia, and soyabean oils from Brazil and Argentina. More than 50 per cent of India's edible oils demand is met through imports. Recently, the government increased import duties on edible oils to protect farmers interest amid harvest of kharif (summer-sown) crops.
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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