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India's Vegetable Oil Imports Surge 26% In March

Capital Market 

As per the latest update from , the import of vegetable oils during March 2019 sharply increased by 26% to 1,446,557 tons compared to 1,146,051 tons in March 2018, consisting 1,393,255 tons of edible oils and 53,302 tons of non-edible oils. The overall import of vegetable oils during November 2018 to March 2019 is reported at 6,309,406 tons compared to 5,931,829 tons i.e. up by 6%.

w.e.f. 1.1.2019 reduced import duty on palm and also reduced the duty difference between crude and palm from 10% to 5% on palmolein to be imported from As anticipated, worst fears have come true and is flooded with RBD Palmolein from Reduction in duty difference between CPO and Palmolein sourced from has resulted in RBD Palmolein imports going up from 130,000 tons in December 2018 to over 300,000 tons in March 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 16:43 IST