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Govt slashes tariff value for edible oil import, may lead to lower domestic prices
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Edible oil: Govt slashes tariff value for edible oil import, may lead to lower domestic prices
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Govt says edible oil prices softening; nearly 20% decline in some cases
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India May palm oil imports nearly doubles, soyoil jumps-trade body
India’s palm oil imports nearly doubled in May from last year’s low base to the highest level in 4-months as refiners bought aggressively to replenish inventory, a leading trade body said in a statement on Monday.
The country’s palm oil imports in the month jumped 92% to 769,602 tonnes, while soyoil purchases rose by 43% to 267,781 tonnes, the Solvent Extractors’ Association of India (SEA) said in a statement.
India’s sunflower oil imports rose 31% to 175,759 tonnes in May, it added.
The country’s imports in May jumped as stocks had depleted after a drop in the imports in the last few months, the SEA said in a statement.
INDIA DATA: May palm oil imports up 10% as pandemic restrictions ease | Hellenic Shipping News Worldwide
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