Import of Vegetable Oils Falls 10.5% In February 2020

The Solvent Extractors' Association of India (SEA) has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of February 2020. Import of vegetable oils during February 2020 is reported at 1,112,478 tons compared to 1,242,533 tons in February 2019, consisting 1,089,661 tons of edible oils and 22,817 tons of non-edible oils i.e. down by 10.5%. The overall import of vegetable oils during November 2019 to February 2020 is reported at 4,563,791 tons compared to 4,862,849 tons i.e. down by 6.1%. In view of the placing RBD Palmolein under restricted list w.e.f. 8th January, 2020 its import has drastically reduced in February 2020 at 33,677 tons. Import of Crude Sunflower and Crude Soybean Oil sharply increased as spread between Palm Oil and Soft Oils reduced to nearly US$ 75 to 80 per ton, encouraging larger import of Soft Oils, SEA noted.

Powered by Capital Market - Live News