Edible oil imports jump 11% in December, may rise further on duty cut

Palm oil share in overall inbound vegetable oil surges 71 per cent to 811,700 tonnes; Domestic refineries to take a hit

India's import of vegetable oils were up 11 per cent in December 2018 due to a supply glut in major producing countries such as Malaysia and Indonesia and growing consumption in local markets here.

Data compiled by the apex industry body the Solvent Extractors' Association (SEA) showed India's total vegetable oil import at 1.21 million tonnes for December 2018, compared to 1.09 million tonnes for the corresponding month the previous year.

The import of vegetable oils in India is set to escalate further in the coming months, due to a cut in duty as mandatory under the Malaysia-India Comprehensive Economic