Import of Soya bean Oil and Palm Oil from Bangladesh to India has almost hampered since September last year, after cheerful three months, as India tightened duty-free import of the products from Bangladesh to protect the local millers.
Since demand for Edible Oil increased in India, import of Soya bean and Palm Oil by Indian traders from Bangladesh stood at $83.80 million in July-September of the current fiscal year (2018-2019).
In October-December quarter Indian traders imported Edible Oil worth only $3.84 million, taking the total import to $87.64 million in July-December.
Export Promotion Bureau data showed that the export of Soya bean Oil to India was $48.53 million in July-September of FY19 and the export of the item was only $0.3 million in October-December of FY19.
Export of Palm Oil to India in the first quarter of FY19 was $35.27 million but the export was only $3.55 million in the second quarter of FY19.