Industry body Solvent Extractors Association (SEA) has said that India's palm oil imports rose marginally to 5,90,921 tonnes in June this year, but the shipment of RBD palmolein oil showed a sharp increase. India, the world's leading vegetable oil buyer, imported 5,87,467 tonnes of palm oils in June 2021. The association also demanded the government to increase the quota fixed for duty-free import of crude soyabean oil and sunflower under the Tariff Rate Quota (TRQ) system to boost domestic availability.
Total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago period. The share of palm oil is about 50 per cent of the country's total vegetable oil imports. Among palm oil products, import of Crude Palm Oil (CPO) declined by 12 per cent to 5.07 lakh tonnes in June this year, from 5.76 lakh tonnes in the year-ago period, as per the SEA data.
However, the import of RBD (Refined, Bleached and Deodorised) palmolein rose sharply around 25 times to 79,264 tonnes from 3,200 tonnes, while that of Crude Palm Kernel Oil (CPKO) declined by 48.42 per cent to 3,805 tonnes from 7,377 tonnes in the said period. Among soft oils, the import of soyabean oil increased by 12 per cent to 2.30 lakh tonnes in June this year, as against 2.06 lakh tonnes in the same period of the previous year. Whereas import of sunflower oil fell 32 per cent to 1.19 lakh tonnes, as against 1.75 lakh tonnes, in the said period.
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