The Solvent Extractors’ Association (SEA) of India has compiled the import data of vegetable oils (edible and non-edible) for the month of January 2020. The overall import of vegetable oils during Q1 of 2019-20 (i.e., from November 2019 to January 2020) was reported at 34,51,313 tonne compared to 36,20,316 tonne (i.e., down by 4.7 per cent).
The import of vegetable oils during January 2020 was reported at 11,95,812 tonne compared to 12,75,259 tonne in January 2019, consisting of 11,57,123 tonne of edible oils and 38,689 tonne of non-edible oils (i.e., down by six per cent).
RBD Palm Oil and RBD Palmolein placed under restricted list
Director General of Foreign Trade (DGFT), Ministry of Commerce and Industry, New Delhi, issued Notification No.39/2015-220 in January 2019, placing the import of RBD Palmolein and Palm Oil under a restricted list to regulate excessive import in to India.
The import will now be subjected to licence to be issued by the DGFT. In the meantime, joint DGFT, Kolkata has issued licences for 88,000 tonne of import of RBD Palmolein from Nepal at zero duty under SAFTA agreement.
