Vegetable oil imports up 24.77% in December
India’s vegetable oil imports grew by 24.77% to 1.41 million tonnes in December 2015 as compared to 1.13 million tonnes in December 2014, according to the latest report by the Solvent Extractors’ Association. The country imported 1.40 million tonnes of edible oil and 11.47 thousand tonnes of non-edible oil during the month. Overall import of vegetable oil during first two months of oil year 2015-16, i.e. November and December 2015, increased by 18% to 2.76 million tonnes from 2.33 million tonnes during the corresponding period of previous oil year. “It is a well-known fact that globally the prices of edible oil are historically low since 2008, and has affected the domestic players,” the Solvent Extractors’ Association (SEA) said in a statement. Import of non-edible oil during November - December 2015 was only about 16 thousand tonnes compared to 58.8 thousand tonnes during the same period of the previous year.
January 18, 2016 | 05:00pm IST