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Palm oil import rises 21.58% to 7,99,346 tonnes in May

Press Trust of India  |  New Delhi 

Palm import rose 21.58 per cent to 7,99,346 tonnes in May because domestic vegetable output fell as farmers were reluctant to sell oilseeds below the minimum support price for processing, industry body Solvent Extractors Association (SEA) said today.

India, the world's leading vegetable buyer, had imported 6,57,454 tonnes palm in May 2016.


The SEA cautioned that lower realisation could impact planting of oilseeds in the ensuing kharif season. To check price fall, the industry body demanded the to immediately hike import duty on crude and refined edible

The country's total vegetable remained flat at 13.84 million tonnes in May this year from 10.24 million tonnes in the year-ago period.

"Import of edible sharply increased in last two months as farmers are reluctant to sell oilseeds below MSP, which resulted into lower production of domestic vegetable oil," SEA said in a statement.

The share of palm is 64 per cent of the country's total vegetable

Among palm products, import of RBD palmolein increased by 12.73 per cent to 2.94 lakh tonnes in May this year from 2.61 lakh tonnes in the year-ago period.

The shipment of crude palm (CPO) rose by 26 per cent to 4.92 lakh tonnes, as against 3.91 lakh tonnes, while the import of crude palm kernel (CPKO) jumped more than four fold to 12,497 tonnes, from 4,499 tonnes in the said period.

Among soft oil, import of sunflower increased to 1.54 lakh tonnes in May this year, from 1.50 lakh tonnes in the year-ago period.

The shipment of rapeseed-mustard also increased to 29,143 tonnes, from 18,718 tonnes, and the import of soyabean rose sharply to 3.40 lakh tonnes from 1.78 lakh tonnes in the period under review.

palm oil, mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soyabean from Latin America. Sunflower is imported from Ukraine and Russia.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 14 2017. 16:42 IST
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