Vegetable oil import may rise by 5 lakh tonnes in 2016-17: SEA
Solvent Extractors' Association (SEA) Executive Director B V Mehta said the import of crude palm oil (CPO) could rise and shipments of refined palmolien fall by around 3,00,000 tonnes during August-October after recent hike in import duty.
India's vegetable oil import is likely to rise by 5,00,000 tonnes during the current marketing year ending October to nearly 15 million tonnes on higher domestic demand and cheaper imports, an industry body said.
Solvent Extractors' Association (SEA) Executive Director B V Mehta said the import of crude palm oil (CPO) could rise and shipments of refined palmolien fall by around 3,00,000 tonnes during August-October after recent hike in import duty.
"We had earlier estimated that import of vegetable oils will fall in the 2016-17 marketing year (November-October).
But now, we have revised our estimate and imports could increase by half a million tonnes," Mehta told
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