Edible oil import likely to fall first time in 7 years on duty hike

Despite 11 per cent jump in oil imports in August, the overall trend has reversed

India’s edible oil import is estimated to register a fall this oil year (from November, 2017 to October, 2018), first time in seven years. Import of vegetable oils (largely edible oil and some non-edible oil for industrial use) have been on the rise for many years and almost tripled in ten years to 15.4 million tons last year.

In August 2018, imports were up by 11 per cent despite the fall in rupee, which is attributed to the empty pipeline from three months of consistent fall in imports. Even average prices of major oils in international market were at a two-year