India's Q1 vegetable oil imports rise 17% to 40.14 lakh tons: SEA

India’s vegetable oil import during the first quarter of the current oil year (November-October) rose by 17% to 40.14 lakh tons due to higher imports of Palmolein oil. During November-January period of current oil year, the import of refined Palmolein oil jumped to 6.11 lakh tons from 1.73 lakh tons in the same period of previous year.

In January, the import of vegetable oils was reported at 12.58 lakh tons compared with 10.95 lakh tons in the same month last year. The import consisted of 12.55 lakh tons of edible oils and 3,000 tons of non-edible oils.

There are enough stocks in the country as against the requirement of about 16 lakh tons and currently holding stock of 24.55 lakh tons can fulfill 46 days of requirement. The country's vegetable oil imports touched a record 14.61 million tons in 2014-15 oil year ended October.