Edible oil import expected to fall 13% on sharp drop in consumption

Healthy oilseed output could improve domestic production of edible oil, reducing reliance on imports even further

Edible oil imports are expected to fall by 13 per cent this oil year (November-October) as the Covid-19 and lockdowns have hit demand for by over 1.5 to 2 million tonnes (mt). This fall was mostly because of closure of the hotels, restaurants, and catering (Horeca) segment.

Imports stood at 14.9 mt in 2018-19, and with the expected 2 mt fall, imports could hit a six-year low of 12.9 mt. In 2013-14, imports stood at 11.62 mt.

To be sure, the closure of the Horeca segment has significantly hit demand not just of edible oil, but also of sugar, value added milk