More Losers in 2007

The Indian market is set to complete a five-year bull run. 2007 was a year of reckoning for the...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
India’s vegetable oils import decline by 11% in Nov

New Delhi: Driven by increased availability of oilseeds in domestic market, the country’s vegetable oils import has declined by over 11% to 6.68 lakh tonnes in November, reports PTI quoting an industry body.

“Last year, we had a drought that had reduced availability leading to higher imports during the month of November,” The Solvent Extractors' Association of India (SEA) executive director VB Mehta told PTI.

He said, however, the situation is different from last year's, as good monsoon has helped country in increasing oilseed output thereby making the availability good for crushing.

India had imported 7.53 lakh tonnes of vegetable oil in November last year, SEA said in a statement.

During the month under consideration, India had imported 6.5 lakh tonnes of edible oils and 16,655 tonnes of non-edible oils, the statement said.

Imports of vegetable oil during the oil year 2009-10 (November 2009-October 2010) increased by 6.6% to 92.4 lakh tonnes from 86.6 lakh tonnes in the same period of the previous oil year.

Mr Mehta said, “It is the first month of oil year 2010-11, so nothing can be predicted as now whether there would be a continuous decline in imports in forthcoming months also.”

Imports of vegetable oil—including edible oil, non-edible oil and vanaspati—in the oil year ended October 2010, amounted to 92.4 lakh tonnes and were valued at Rs38,000 crore.

During November 2010, the country witnessed a 60% decline in non-edible oil import to 16,655 tonnes compared to 41,289 tonnes.

This was the highest volume of edible oil imported by the country in a single oil year since 1994, when import restrictions on edible oil were first lifted.

User

Online Brokerages

I have been reading your magazine for the past six months. I am impressed by your unbiased...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)