The imports of crude palm oil from India soared 44.99% y-o-y to 7.67 lakh tons in January, the Solvent Extractors’ Association of India SEA said Friday. In a January 2020 announcement, imports of crude palm oil stood at 5,29 lakh tons.
The duty on the importation of raw palm oil (CPO), which decreased from 37,5% to 27,5% on 2 November 2020, while the duty on soft oil remained unchanged at 35%, which facilitated greater imports of palm oil, added SEA.
The main suppliers of palm oil to India are Indonesia and Malaysia.
Malaysia was the largest provider of CPOs in the last month (4,97 lakh tonnes). The following were data from SEA: Indonesia (2.70 lakh tonnes).
However, total imports of vegetable oils declined 8 percent at 10.96 lakh tonnes during January 2020, compared with 11.95 lakh tonnes. Last month, 10.74 tons of edible oils is edible with 22.034 metric tons of non-edible oils.
In the meantime, there has been 35.56 lakh tonnes’ gross import of vegetable oils between November 2020 and January 2021, up 3% from the 34.51 lakh tonnes a year earlier.