Krishi VaartaOutlook Agriculture
The import of vegetable oil in the country dropped by 11 percent
The import of edible and non-edible oil saw a drop of 11 percent this April and only 1,232,283 tonnes of oil has been imported compared to the 1,386,466 tonnes of import last year in April.
According to The Solvent Extractors' Association of India (SEI), April has witnessed quite lesser import of edible as well as of non-edible oil if compared to the import in March. In April, the volume of imported edible oil was just 1,198,763 tonnes, while this figure in March was 1,393,255. Similarly only 33,520 tonnes of non-edible oil has been imported in April, whereas this import has a volume of 53,302 tonnes in March. The import of edible and non-edible oil was up by 26% in March.
According to the SEI, the plenteous availability of edible oil in the world market has although caused a 11 to 22 percent drop in the prices of edible oil, but rupee has fallen 6 percent against dollar throughout the year. The prices of imported edible oil have seen a surge in April against that of March.
Source: Outlook Agriculture, 15 May 2019
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