The Solvent Extractors’ Association of India (SEA) stated today that the imports of vegetable oils stood at 13.70 lakh tonnes in August 2020, down 14% compared to August 2019. Edible oil imports stood at 13.08 lakh tonnes, down 14.11% on year. The local edible oil imports had hit an 11 month high of 15.17 lakh tonnes in July 2020.
SEA noted that demand destruction from Hotel, Restaurant, Cafe continued to weigh on imports. India’s palm oil imports in August fell 13.9% from a year earlier to 7.34 lakh tonnes while soyoil imports dropped 10.4% year-on-year to 3.94 lakh tonnes last month. Total vegetable oils import during November 2019-August 2020 is also down by 13%.
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