India’s vegetable oil imports declined by 28 percent to 12 lakh tonnes in January.

India’s vegetable oil imports declined by 28 percent to 12 lakh tonnes in January.


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SEA said in the statement that the total edible oils stock as on February 1 was 26.49 lakh tonnes, which is 7.64 percent less than the same period a year ago. The statement said that prices of edible oils are currently low, but they may increase this year due to lower production, global economic issues and supply side constraints.

New Delhi. The country’s vegetable oil import declined by 28 percent to 12 lakh tonnes in January on an annual basis. Industry body SEA gave this information on Monday. The import of vegetable oil in January 2023 was 16.61 lakh tonnes. India is a major buyer of vegetable oil in the world. In the first quarter (November-January) of the current oil year, total imports declined by 23 percent to 36.73 lakh tonnes, which was 47.73 lakh tonnes in the same quarter of the previous year. According to Solvent Extractors Association of India (SEA), the total vegetable oils imported in January this year included about 7,82,983 tonnes of palm oil and 4,08,938 tonnes of soft oils.

SEA said in the statement that the total edible oils stock as on February 1 was 26.49 lakh tonnes, which is 7.64 percent less than the same period a year ago. The statement said that prices of edible oils are currently low, but they may increase this year due to lower production, global economic issues and supply side constraints. Due to the increasing use of palm oil to prepare bio-diesel in Malaysia and Indonesia, their availability has reduced. In such a situation, prices may increase this year.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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