Vegetable oils import up by 26% in one year

Import of vegetable oils during July 2019 is up by 26% to 1,412,001 tons as compared to 1,119,538 tons in July 2018, according to data compiled by the Solvent Extractors' Association of India (SEA). The vegetable oils imported in July 2019 comprises 1,347,882 tons of edible oils and 64,119 tons of non-edible oils.

However, the overall import of vegetable oils in the first nine months of the current oil year (November 2018 to October 2019) has gone up by 5% to 11,280,972 tons compared to 10,766,076 tons during the same period of last year

During the last few months, due to duty advantage given to Malaysia for Palmolein under India-Malaysia CECA Agreement, the country flooded with RBD Palmolein from Malaysia following reduction of duty difference from 10% to 5% between CPO and Palmolein sourced from Malaysia with effect from January 1, 2019, This has seriously affected working of domestic refiners of CPO and capacity utilization further reduced.