Veg oil imports up by 17% to 40.14 LT in Q1

Vegetable oil import during the first quarter of the current oil year (November-October) rose by 17 per cent to 40.14 lakh tonnes due to higher imports of Palmolein oil.
During November-January period of currrent oil year, the import of refined Palmolein oil jumped to 6.11 lakh tonnes (LT) from 1.73 lakh tonnes in the same period last year.
"The overall import of vegetable oils during first quarter of the current oil year 2015-16 is reported at 40.14 lakh tonnes compared to 34.27 lakh tonnes, up by 17 per cent," Industry body Solvent Extractors Association said in a statement.
In January, the import of vegetable oils was reported at 12.58 lakh tonnes compared with 10.95 lakh tonnes in the same month last year. The import consisted of 12.55 lakh tonnes of edible oils and 3,000 tonnes of non-edible oils.

The industry body said there are enough stocks in the country as against the requirement of about 16 lakh tonnes and currently holding stock of 24.55 lakh tonnes can fulfill 46 days of requirement.
The country's vegetable oil imports touched a record 14.61 million tonnes in 2014-15 oil year ended October.