Vegetable Oil

The continued decline offers some relief to households grappling with a cost-of-living crunch. The index is down for seventh month, its longest slump in 9 years, and food inflation has begun to slow

Total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago period.

India has expanded the excise duty exemption for biofuels to encourage the blending of higher proportions of ethanol and components of vegetable oil with gasoline and diesel, a government order said.

In March, 539,793 tonnes of palm oil landed in India, up from 454,794 tonnes in February, the Solvent Extractors' Association of India (SEA) said in a statement

In view of volatility in global oil markets due to Ukraine war, Solvent Extractors Association of India appealed to strictly adhere to stock limit prescribed under storage control order

The move which will help cool prices and increase domestic availability in the festive season

India on Wednesday slashed its base import tax on crude palm oil, crude soyoil and crude sunflower oil to zero from 2.5%

MUMBAI (Reuters) -India has cut base import taxes on palm oil, soyoil and sunflower oil, according to a government notification, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

The government is considering reducing taxes on vegetable oil imports after cooking oil prices hit record highs last month

India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while vegetable oil imports in the month spiked 148% to a record $1.4 billion, a government source

Vegetable oil prices led the upward charge in the overall index, surging 14.5% month-on-month.

In 2019-20, India's palm oil imports fell 23.3% to 7.22 million tonnes

During November 2018 to July 2019 period, the overall import of vegetable oils went up 5 per cent to 112.8 lakh tonne against 107.6 lakh tonne in the corresponding period of the previous year

The current duty structure coupled with rupee depreciation and credit crunch in the market has slow down the import

India's vegetable oils import during January has increased sharply by 25 per cent against 10 per cent fall in December and marginal increase in November when oil season begins in India. Steep rise in import was seen ahead of duty hike in vegetable oils in budget. According to the data released today by the Solvent Extractors' Association (SEA), import in January was reported at 1.29 million tons compared to 1.03 million tons in January 2017 up by 25 per cent. The overall import of vegetable oils during oil year beginning from November 2017 to January 2018 was up by 6%.In the last Union Budget presented on 1st Feb, import duty on several veg oils was increased sharply while 10% Social Welfare Surcharge was levied on all imported goods including edible oils, resulted in to marginally increase in import duty ranging from 1 to 3 per centage points, "which will provide some more cushion to domestic refiners," said B V Mehta, Executive Director of the SEA. Indian refiners were pressing for .

India imports about 60% of its edible oil requirement

About 55% of India's 23.5 million tonnes of annual edible oil consumption is met through import

Domestic demand is expected to rise to 20-21 million tonnes, according to SEA's executive director

Imports stand at 1.1 mt, compared with 1.5 mt last year

During Nov-Feb period of the current 2015-16 oil year, the import of vegetable oils increased by 19% to 51,25,017 tonnes