India’s vegetable oils import rose 13% and stood at 10.33 lakh tonnes (LT) in May compared to 9.17 LT in the same month of the previous year, according to data released by Solvent Extractors’ Association of India. This rise was on account of increase in shipments of edible oils. Vegetable oil import comprises of both edible and non-edible oils.
India meets about 60% of its annual vegetable oil demand of 17-18 million tonnes (MT) via imports. Palm oils make up 80% of the country’s total vegetable oil imports. The import of edible oil was up 14.5% to 10.22 LT from 8.92 LT earlier while the import of non-edible oil has almost halved to 11,546 tonnes in May 2014 from 25,898 tonnes in the same month last year.
Besides, import of vegetable oils during the November-May period of oil year (November-October) 2013-14 increased to 6.198 LT from 6.197 LT earlier.