Vegetable Oil Imports Slide 8% In January

The Solvent Extractors' Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of January, 2021. Import of vegetable oils during January 2021 is reported at 1,096,669 tons compared to 1,195,812 tons in January, 2020, consisting 1,074,635 tons of edible oils and 22,034 tons of non-edible oils i.e. down by 8%. The overall import of vegetable oils during November 2020 to January 2021 is reported at 3,556,153 tons compared to 3,451,313 tons i.e. up by 3%. Import of Crude Palm Oil jumped in first quarter, due to duty reduction from 37.5% to 27.5% w.e.f. 27th November 2020 by Indian Government, resulted in to 24% higher import by India during first quarter of 2021-22. Import of Soybean oil in January 2021 was lowest as truckers strikes in Argentina seriously affected loading during November 2020 resulted lesser vessels of soybean oil arrival in India during January 2021.

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