Import of Vegetable Oils rises by 23% in November'14 - August'15
Import of vegetable oils during August 2015 is reported at 1,374,049 tons compared to 1,333,480 tons in August 2014, consisting of 1,364,572 tons of edible oils and 9,477 tons of non-edible oils i.e. up by 3%, according to The Solvent Extractors' Association of India (SEA). The overall import of vegetable oils during November '14 to August '15 is reported at 11,725,065 tons compared to 9,525,374 tons i.e. up by 23%.India is being used as a dumping ground for excessive supply of edible oils in the world market. Excessive import has put tremendous pressure on the local prices, which are at a level where Indian oilseeds growing farmers are in distress and losing interest in oilseed crop. Country's dependence on imported oil has further increased to nearly 70%, an alarming situation for the country's food security.
Import of Soybean Oil in August '15 has set a new records
Import of Soybean Oil in August '15 is reported at 4.06 lakh tons which is highest after reporting of 3.49 lakh tons in earlier month of July '15 and 3.10 lakh tons in August 2001.
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