Veg oil imports fall 2% in Jan - Business Standard

The import of vegetable oils fell in January by two per cent, partly due to a comfortable inventory with refining mills, show industry data.

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Data with The Solvent Extractors’ Association of India (SEA), based here, show imports were 872,395 tonnes, compared to 888,102 tonnes in the corresponding month of the previous year, a two per cent decline. Total imports during the first quarter of the current oil year (November-October), however, rose 10 per cent to 2.4 million tonnes (mt)from 2.19 mt in the comparable quarter of last year. B V Mehta, executive director of SEA, said domestic refiners had built up stocks over several months. Favourable rupee movements against the dollar and low (7.5 per cent) tariffs helped. The decline was also partly due to the ongoing crushing season. Generally, imports decline in the peak crushing season (October-March) and then start gradually picking up in the lean season.

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