Categories: Business

edible oil import hit 8 month high in June as demand up

Photo: GOOGLE

Edible Oil Demand up

new Delhi. India has imported the maximum edible oil in June during the last eight months, an increase of eight per cent over the same period last year. However, the total import of edible oil in these eight months has come down by 15% over the previous year. According to data compiled by the Edible Oil Industry Organization Solvent Extractors Association of India, India imported 11.62 lakh tonnes of edible oil during the last month of June in the first eight months of the current oil-oilseed season 2019-20 (November-October). is the most. At the same time, India imported 10.71 lakh tonnes of edible oil in June last year, which has led to an increase of about eight percent in June this year.

In the current season, total imports of edible oil from November 2019 to June 2020 have been 80.52 tonnes, which is 15% lower than 94.56 lakh tonnes in the same period last year. According to the edible oil industry, imports of RBD palmolein declined by 79 percent. The import of refined edible oil RBD palmolein during the eight months of the current season was just 3.80 lakh tonnes as against 18.25 lakh tonnes during the same period last year. At the same time, the import of crude edible oil has been 76.71 lakh tonnes during the last eight months compared to 76.30 lakh tonnes in the same period last year. The share of crude edible oil imports in edible oil imports has increased from 81 per cent last year to 95 per cent this year, the highest level ever.

On 8 January 2020, the Government of India put RBD palmolein imports on the banned list, causing a huge decline in its imports. In June last month, India imported just 3000 tonnes of RBD palmolein, which is about 99% less than the 2.55 lakh tonnes in the same month last year. The industry association said that in 1994, RBD palmolein importation was the lowest since June.

This post was published on July 7, 2020 4:42 pm

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