India’s Nov veg oil imports jump

NEW DELHI: India’s vegetable oil imports in November rose 11% from a year earlier to 1.17 million tonnes, as soyoil imports more than doubled, a leading trade body said on Monday.

Soyoil imports surged to 474,160 tonnes last month, against 250,784 tonnes bought in the same month last year, the Solvent Extractors’ Association of India (SEA) said.

Imports of crude palm oil dropped to 477,160 tonnes from 589,268 tonnes imported in November 2020.

In the 2020/21 marketing year ended on Oct. 31, India’s bill for imports of vegetable oil jumped 63% from a year ago to a record 1.17 trillion rupees ($15.71 billion) as overseas prices of edible oils surged.