India's base oil imports rose by 20pc on the year to 212,711t in October, data from GTT show.
- The increase in imports is likely because of lower domestic production owing to plant maintenance.
- Vehicle sales in India increased by 12pc on the year to nearly 2.6mn units in October, data from the Society of Indian Automobile Manufacturers show. This likely supported demand for finished lubricant.
- But base oil imports in October fell by 10pc on the month, following two consecutive months of increase in August and September.
- South Korean imports stood at 77,833t in October, increasing by 33pc on the year and decreasing by 33pc on the month.
- Arrivals from Taiwan surged in October. Taiwanese exports to India resumed in September and October, after minimal volumes in August. The sole Group II base oil plant in Taiwan operated at a reduced rate from the end of May to October.
| India base oils imports | (t) | ||||
| Oct'24 | m-o-m ± % | y-o-y ± % | Jan-Oct 24 | y-o-y ± % | |
| South Korea | 77,833 | -32.6 | 33.3 | 975,377 | 47.1 |
| Singapore | 37,735 | 13.1 | 22.0 | 339,805 | 23.4 |
| Saudi Arabia | 28,533 | 36.4 | 12.8 | 203,977 | -13.2 |
| Taiwan | 22,407 | 393.9 | 279.1 | 88,657 | 3.1 |
| UAE | 18,797 | 101.3 | 60.4 | 220,524 | 20.2 |
| Monthly total | 212,711 | -10.0 | 20.0 | 2,307,618 | 21.1 |
| Source: GTT | |||||
| Total includes all countries, not just those listed | |||||
