SEA Estimates 13% Slide In Vegetable Oil Imports In September 2019

As per the latest update from Solvent Extractor's Association (SEA) of India the import of vegetable oils during September 2019 down by 13% to 1,303,976 tons compared to 1,491,174 tons in September 2018, consisting 1,254,443 tons of edible oils and 49,533 tons of non-edible oils. However the overall import of vegetable oils during November 2018 to September 2019 is reported at 14,171,462 tons compared to 13,769,847 tons during the same period of last year i.e. up by 3%. In response to safeguard duty petition filed by the SEA of India, Government imposed 5% safeguard duty on RBD Palmolein/Palm Oil of Malaysian origin w.e.f. 4.9.2019. In view of this, now the duty difference between crude and refined palm oil has increased to 10% irrespective of any origins. Although the import of RBD Palmolein remained more or less same in Sept.'19, the quantity of import from Malaysia reduced to 1/3rd from previous months import.

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