India July Veg Oil Imports Down 27% Y/Y At 11.19 Lakh Tonnes - SEA

MUMBAI (Commoditiescontrol) - India vegetable oils import during the month of July dropped 27% year-on-year to 11.19 lakh tonnes, according to latest data released by the Solvent Extractors' Association of India (SEA).

Vegetable oils import during the current oil marketing year (Nov-Jul) dropped by 5.5% to 107.66 lakh tonnes from 113.92 lakh tonnes during the same period a year ago.

"The current revision in import duty in June 2018, followed by fast rupee depreciation and also credit crunch has lead to negative growth in import of vegetable oils," said B.V Mehta, Executive Director, SEA.

Secondly in May 2018, first time, we have seen that import of soft oils (soya, sunflower & rape) is higher than palm oil with Soft oils share at 60% while palm oil just 40% only, said Mehta.



(By Commoditiescontrol Bureau; +91-22-40015533)