India's July palm oil imports drop 33% as costs rise: Trade body

India's palm oil imports slumped 33 percent in July from a year earlier to 550,180 tonnes as higher duties and a depreciating rupee made imports more expensive, a leading trade body said on Tuesday.

Soyoil imports fell by a quarter to 352,325 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.

India is the world's biggest importer of edible oils. Its total vegetable oil imports dropped 27 percent to 1.12 million tonnes in July, it said.