Indian vegetable oil imports up 21% in first six months of current marketing year
RBD Palm Oil
India
Published May 31, 2023
Tridge summary
India’s vegetable oil imports increased by 21% to 8.1M tonnes (81.10 lakh tonnes) in the first six months of the current marketing year driven by increased shipments of refined palm oil, Business Line reported. The world’s leading vegetable oil buyer, India’s oil marketing year runs from November to October.
Original content
India’s vegetable oil imports increased by 21% to 8.1M tonnes (81.10 lakh tonnes) in the first six months of the current marketing year driven by increased shipments of refined palm oil, Business Line reported. The world’s leading vegetable oil buyer, India’s oil marketing year runs from November to October. Vegetable oil imports in the same period of the previous year totalled 6.7M tonnes (67.07 lakh tonnes), the 12 May report said. According to industry body the Solvent Extractors Association of India (SEA), the volume of refined palm oil imports was a cause of concern. “Increase in import of RBD palm olein in the first six months of the current oil year reported at 11M tonnes (11.01 lakh tonnes) is nearly 22% of total palm oil import, depriving domestic industry for capacity utilisation,” the SEA was quoted as saying. To address the problem, the SEA has proposed that the duty difference between crude palm oil (CPO) and refined palm oil needed to be increased from the current ...
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