Krishi VaartaOutlook Agriculture
Imports of edible and non-edible oils increased by 26% in July
Imports of edible and non-edible oils increased by 26% to 14,12,001 tonnes in July, which is also impacting the prices of oilseeds in the domestic market. Mustard prices in producer mandis range from Rs 3,775 to Rs 3,800 per quintal while the central government has fixed the minimum support price (MSP) of mustard at Rs 4,200 per quintal.
According to the Solvent Extractors Association of India (SEA), imports of edible and non-edible oils increased to 14,12,001 tonnes in July from 11,19,538 tonnes in the same period last year. Import of refined oil has increased drastically due to the gap in the import duty of crude palm oil and RBD palmolein oil imported from Malaysia five months ago by the central government, which has had an impact on the prices of oilseeds in the domestic market. It is also affecting the domestic industry.
Source - Outlook Agriculture, 14 August 2019
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