|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Import of cooking oil at lowest level in last 4 years
|
|
Monday, 10 March, 2025, 08 : 00 AM [IST]
|
|
Ashwani Maindola, New Delhi
|
The import of cooking oil in India was recorded at the lowest level in the last four years. The decline was witnessed due to decline in import of soybean and sunflower oil.
Shankar Thakkar, president, All India Edible Oil Traders Federation, said that the import of edible oil has reached the lowest level in four years. This has happened due to the decline in the import of soybean and sunflower oil. Although, there has been a slight improvement in the import of palm oil, which had reached a 14-year low in January.
Thakkar informed that in February, soybean oil imports fell 36 per cent to 284,000 metric tonnes, its lowest level in eight months. Similarly, sunflower oil imports also fell 22 per cent to 226,000 metric tonnes. This is its lowest level in five months. Due to higher prices in the international markets and high availability at the domestic level, refiners have imported oil in less quantity in February.
Meanwhile, the stock of edible oil in the country fell 26 per cent to 1.6 million tonnes in February as compared to January, which is its lowest level in 4 years. After the decrease in imports in January and February, imports are expected to rise from March.
"India is the largest importer of edible oil in the world and is dependent on imports for about 60% to 70% of its needs. For the second consecutive month, there has been a decline in the import of edible oil and India may have to increase imports in the coming months. Palm oil imports increased by 36 per cent to 374,000 metric tonnes compared to last month while India imported 750,000 tonnes of palm oil every month during the marketing year ending in October 2024," said Thakkar.
|
|
|
|
|
|
|
|
|
|