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India vegetable oil imports seen shrinking for second year: SEA

Imports in 2020/21 marketing year ending October 31 could fall to 13.1 million tonnes, the lowest in six years, from last year’s 13.2 million, B.V. Mehta, SEA executive director, said in a virtual conference.

September 08, 2021 / 01:29 PM IST
Representative Image

Representative Image

India’s vegetable oil imports are likely to contract for the second straight year, the Solvent Extractors’ Association of India (SEA) said on Wednesday.

Imports in 2020/21 marketing year ending October 31 could fall to 13.1 million tonnes, the lowest in six years, from last year’s 13.2 million, B.V. Mehta, SEA executive director, said in a virtual conference.

Palm oil imports, however, could rise 8 percent from a year ago to 7.8 million tonnes, he said, as India allowed imports of refined palm oil and cut the import tax on crude palm oil.
Reuters

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