Veg oil imports down 9% in Feb at 11.57 lakh tonnes

Vegetable oils import fell by 9 per cent to 11.57 lakh tonnes last month due to lower shipments of refined palm oil and crude soyabean oil, according to industry data.

Imports of vegetable oils (comprising edible oils and non-edible oils) stood at 12.70 lakh tonnes in the year-ago period, the Solvent Extractors' Association of India (SEA) said in a statement.

However, the overall import of vegetable oils during November 2017 to February 2018 is reported at 47,85,778 tonnes as compared to 46,84,451 tonnes in the corresponding period of the previous year.

The association said there is need to increase import duty on rapeseed/mustard/ canola oil, soybean oil and sunflower oil to support the farmers.

Earlier this month, the government increased import duty on crude palm oil, RBD palmolein and RBD palm oil.

Import duty on CPO has been increased to 44 per cent from 30 per cent and on RBD palmolein and refined palm oil to 54 per cent from 40 per cent.

"This increase in duty is a welcome step. Yet, the government has missed the opportunity to provide a 15 per cent duty difference between crude and refined oils as requested by the association to encourage domestic refining industry and promote Make in India," SEA said.