Veg Oil Imports Dip 8 Percent Between Nov March 2016-17
AHMEDABAD: India’s vegetable oil imports have dropped by around eight per cent in the first five months of the oil year 2016-17 (November-October) on robust the domestic production of oilseeds rising output of edible oils.
According to latest data released by the Solvent Extractors Association of India (SEA), India's vegetable oil imports for the period November-March stood at 5.79 mt as against 6.31 mt reported in the corresponding period last year, thereby indicating a drop of 8 per cent.
According to SEA report, the veg oil imports for the month of March fell by 7 per cent to 1.10 mt as against 1.19 mt.
The report also revealed that during the five-month period, palm oil imports fell to 3.5 mt from 3.6 mt during the same period of last year.
“However, overall share of palm oil products increased to 63 per cent from 57 per cent as RBD Palmolein imports surged,” stated SEA in its statement.