India's Vegetable Oil Import Rises 9.68% In October

As per the latest release from the Solvent Extractor's Association of India (SEA), the import of vegetable oils during Oil Year 2018-19 (Nov.'18 to Oct.'19) i.e. edible oil and non-edible oil is reported at 155.50 lakh tons (15.55 Mmt) compared to 150.26 lakh tons (15.02 Mn. T) for the same period of last year i.e. up by 3.5%. Import of Vegetable Oils during October 2019 is reported at 1,378,104 tons compared to 1,256,433 tons for Oct.'18, up 9.68%. This consists of 1,331,926 tons of edible oils and 46,178 tons of non-edible oils.

The total import of vegetable oils i.e. edible oil and non-edible oil for the year 2018-19 (Nov.'18 to Oct.'19) is reported at 155.5 lakh tons compared to 150.2 lakh tons last year (2017-18) and 146.1 lakh tons in 2014-15. The overall import of edible oil increased from 144.2 lakh tons in 2014-15 to 149.1 lakh tons @0.84% CAGR, while non-edible oil increased at alarming level from 1.9 lakh tons in 2014-15 to 6.4 lakh tons @ 35.47% CAGR. This is mainly due to much lower duty on Palm Stearin and P.F.A.D. @ 7.5% against 40% import duty on CPO, the raw material to produce P.F.A.D. & C.P.S.

 

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