Farmers, refiners take a massive blow on spurt in edible oil imports

Mustard seed, rape seed and groundnut trade at 20% discount to MSP

A surge in the import of vegetable oils in India has prompted the domestic oilseed crushing and refining industry to cut operating capacity to a historic low in order to sustain in the business for future.

The apex industry body, Solvent Extractors’ Association (SEA), reported 26 per cent jump in India’s import of vegetable oils (both crude palm oil or CPO and refined, bleached and deodorized or RBD) to 1.45 million tonnes in March 2019 versus 1.15 million tonnes in the corresponding month last year. In February also, import of vegetable oil had risen by 7.4 per cent to 1.24