NEW DELHI (Commodity Online) : India's vegetable oil imports in June increased 31% from a year ago to 780,679 tones, a release from the Solvent Extractors' Association of India said Tuesday.
During Nov-Jun, total vegetable oil imports grew 63% from a year ago to 5.82 million tones. In June, total edible oil imports were 742,481 tones, up 35% on the year.
But, non-edible oil imports for the month fell 12% from a year ago to 38,198 tones. Imports of non-edible oil fell due to higher imports of crude palm oil and domestic refining of CPO which led to better availability of palm fatty acid distillate and crude palm stoerine.
With no duty being imposed in the Union Budget on cheap imports of vegetable oil, more imports are likely in the coming months, the release said.
Overall vegetable oil imports may touch about 8 million tones for the current year ending October (November-October season) due to erratic monsoon and likelihood of lower kharif oilseeds crops.
