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Vegetable oil imports surge by 35% in Dec'12

15 Jan 2013 Evaluate

The import of vegetable oils during December 2012 surged by 35% at 901,092 tonnes compared to 669.912 tonnes in December 2011. The overall import of vegetable oils during November-December 2012 is reported at 1,601,463 tonnes, an increase of 5% compared to 1,525,275 tonnes in the corresponding period last year.

According to the Solvent Extractors Association of India, the share of palm group of oils in imports was 90% during Nov-Dec during the current oil year ending October against 87% in the same period last year. Generally soft oil import is preferred during winter season in India. However, due to heavy discount of palm products which is $300-350 per tonnes over soft oils and lower domestic production of vegetable oils due to hold back in crushing, the import of palm products has gone up in India.

During November-December 2012, palm oil import increased to 1,397,665 tonnes compared to 1,293,378 tonnes during the same period of last year. However, soft oils import decreased to 154,563 tonnes from 189,020 tonnes in the corresponding period last year.

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