Krishi VaartaOutlook Agriculture
Import of Food and non-edible oils increases by 6% in June
Import of food and non-edible oils has increased by 6% in June, and the import during the first 8 months - from 18 November to 19 June - has increased by 2%. Due to high import, mustard is sold at Rs 3,800 per quintal in the markets. Whereas, the government has fixed the price at Rs 4,200 per quintal.
Dr B.V Mehta, Executive Director of Solvent Extractors Association of India (SEA), said that in the global market, palm oil prices have dropped by 14-21% in the past year, while soft oil prices have dropped by 3-5%. For the same reason, palm oil is being imported in large quantities. In June, imports of food and non-edible oils increased to 11,05,293 lakh tonnes as compared to 10,42,003 tonnes in June last year. Import of edible oils during this period has increased to 10,71,279 tonnes as compared to 10,07,563 tonnes in June last year.
Source - Outlook Agriculture, 15 July 2019
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