The month of June has been very important in terms of imports. The import of edible oil in India has reached its highest level. The country's edible oil imports increased by 8% in the month of June, due to which it reached the level of 11.62 lakh tons. Palm oil imports registered a sharp decline. This information was given by the trade organization CEA on Tuesday. In the case of vegetable oil, India is the major buyer of the world. India imported 10.71 lakh tonnes of edible oil in June last year.
According to media reports, there was a decline in oil imports during the period 2019-20. The decline of edible oil has been 15% in November to June. After the decline, imports came to 80.51 lakh tonnes. It was 94.55 lakh tonnes in the year-ago period. According to the SEA, this was mainly due to the fall in RBD palmolein oil imports.
In its statement, SEA said, 'This oil is the highest import in the last eight months of 2019-20'. Of the total imports in June, palm oil was 5.62 lakh tonnes and soft oil was 5.99 lakh tonnes. SEA stated that the import of RBD palmolein has been declining ever since this product has been brought under the restricted trade category. It was brought into the restricted trade category on 8 January this year. SEA said, "It was the lowest import since 1994 when RBD palmolein was allowed to be imported by India." However, crude palm oil (CPO) imports have been higher with 5.59 lakh tonnes. It was 4.21 lakh tonnes in the same period last year.
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