India’s Veg Oil Imports up 17 Per Cent

India’s vegetable oil import has recorded an increase of 17 per cent at 3.42 million tonnes during November 2014 to January 2015.

During the same period last year, vegetable oil imports were at 2.91 million tonnes, Solvent Extractors’ Association of India (SEAI) said in a statement recently.

Attributing the increase, SEAI said: “In last three months, due to nil export duty on palm products by Indonesia and Malaysia and reduced demand of CPO for biodiesel, pushed the export of palm products to India to reduce burgeoning stock held by the exporting countries.”»