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15 July 2009 at 09:40 IST
India’s edible oil imports surges by 31% in June
MUMBAI (Commodity Online): India’s edible imports surged by 31% to 780,679 tonnes in June as compared to last year same period, said Solvent Extractors' Association of India on Tuesday.
According to SEA statement, during Nov-Jun, total vegetable oil imports grew 63% from a year ago to 5.82 million tonnes. In June, total edible oil imports were 742,481 tonnes, up 35% on the year. But, non-edible oil imports for the month fell 12% from a year ago to 38,198 tonnes.
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 (P.F.A.D.) and crude palm stoerine (C.P.S.).
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 tonnes for the current year ending October (November-October season) due to erratic monsoon and likelihood of lower kharif oilseeds crops.
NCDEX COPPERCATHODEJUNE2012 29 June 2012
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