Imports of vegetable oil have shot up by 33 per cent to 1.1 million tonnes (mt) in April as against 832,000 tonnes during the same month of last year, mainly due to higher inward shipments of palm oil, industry sources said.
“Import of vegetable oils during April is reported at 11,08,678 tonnes compared to 8,32,760 tonnes in April 2014, up by 33 per cent,” the Solvent Extractors’ Association of India (SEA) said in a statement.
Imports of crude and refined palm oil by India, the world’s largest buyer, increased in April by 7.5 per cent to the highest level this year at 718,091 tonnes from March after prices tumbled to a seven-month low, SEA added.
Meanwhile, vegetable oils imports during November-April period increased by 25 per cent to 64.61 lakh tonnes as compared to 51.64 lakh tonnes in the year-ago period.
Of the total shipments in November-April period, imports of edible oils stood at 6.3 million tonnes and non-edible oils at 112,000 tonnes, the Association noted.
This post was written by Atlantic Admin