Excessive imports of edible oils hurting the farmers and the industry-The Solvent Extractor's Association of India

The Solvent Extractors' Association (SEA) of India said that the alarming increase in import of edible oils is seriously hurting the domestic farmers and the vegetable oil refiners. The imports of edible oils reached at record level and crossed 100.0 lakhs tonnes during first 9 months of the current oil year (November 2014 to July 2015), against 80.0 lakh tonnes, up by 26% over the same period of last year and expected to touch 140.0 lakh tonnes (value Rs.65,000 crores US$ 10 billion) for the whole year against last year import of 118.0 lakh tonnes.

SEA has sent a Memorandum to Union Government drawing their attention that the excessive imports of edible oils is hurting the farmers and the industry and requested to increase import duty on crude edible oils from 7.5% to 25.0% and refined oil for 15.0% to 45.0%.

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