Palm oil imports increased due to lower duty, says SEA

palm oil imports increased due to lower duty says sea

Sumary of Palm oil imports increased due to lower duty, says SEA:

  • Due to relaxation in policy for import of RBD Palmolein, import of refined palm oil in to India increased substantially in August 2021 and reported at 187,471 tons and likely to continue similar volume in coming months, informed Solvent Extractors’ Association (SEA) in a release.
  • “Import of vegetable oils during August 2021 is reported at 1,053,810 tons compared to 1,370,457 tons in August, 2020, consisting 1,016,370 tons of edible oils and 37,440 tons of non-edible oils, down by 23%.
  • The overall import of vegetable oils during November 2020 to August 2021 ( 10 months) is reported at 10,708,446 tons compared to 11,195,890 tons, down by 4% compared to last year,” the release said.
  • , 2021 from 16.95 lakh tons as on 1st August, 2021. However, stock is lower compared to 1st July, 2021,” said SEA.
  • “Palm Oil import has increased to 6,365,163 tons compared to 5,796,953 tons during November 2019 to August 2020 due to lower duty advantage compared to soft oils.

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