Import of Vegetable Oils Up by 16% in November- December 2014

The Solvent Extractors' Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of December 2014. Import of vegetable oils during December 2014 is reported at 1,139,586 tons compared to 1,067,709 tons in December 2013, consisting of 1,121,590 tons of edible oils and 17,996 tons of non-edible oils i.e. up by 7%. The overall import of vegetable oils during November-December 2014 is reported at 2,329,520 tons compared to 2,012,018 tons i.e. up by 16%.

In last three months, due to nil export duty on palm products by Indonesia and Malaysia and reduced demand of CPO for bio diesel, the export of palm products to India increased in order o reduce burgeoning stock held by the exporting countries. Also, due to high prices of soybean and lesser realization for oil and soybean meal in export market, resulted in lower crushing and availability of domestic oil. Import has shown 16% growth in first two months of oil year 2014-15 over same period of last year.

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