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India December vegoil imports drop 10 percent on lower soyoil purchases

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India's vegetable oil imports in December fell 10 percent from a year ago to 1.1 million tonnes as refiners slashed overseas soyoil purchases after supplies rose from the local crop, a trade body said on Friday.The country's imports of soyoil stood at 79,250 tonnes for the month, well down on the 232,132 tonnes bought last year, the Solvent Extractors' Association, a Mumbai-based trade group for oilseed processors, said in a statement."Indian import duty has gone up so people were waiting to see the impact of duty on prices. Supply from local soybean crop was also good," ...

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First Published: Fri, January 12 2018. 12:33 IST
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