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Vegetable Oil Import Falls 4.7% In Last Three Months

Capital Market 

The Solvent Extractors' Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of January 2020. Import of vegetable oils during January 2020 is reported at 1,195,812 tons compared to 1,275,259 tons in January 2019, consisting 1,157,123 tons of edible oils and 38,689 tons of non-edible oils i.e. down by 6%. The overall import of vegetable oils during Q1 of 2019-20 i.e. November 2019 to January 2020 is reported at 3,451,313 tons compared to 3,620,316 tons i.e. down by 4.7%.

RBD Palm Oil & RBD Palmolein placed under restricted list. Director General of Foreign Trade DGFT Ministry of Commerce & Industry, New Delhi issued a notification dated 8th January, 2019 placing import of RBD Palmolein & Palm Oil under "restricted list" to regulate excessive import in to India. The import will now be subjected to license to be issued by DGFT. In the meantime, Jt. DGFT, Kolkata has issued licences for 88,000 tons of import of RBD Palmolein from Nepal at Zero duty under SAFTA agreement.

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

First Published: Thu, February 13 2020. 15:36 IST