MARKET DEVELOPMENT
India's 2014/15 Edible Oil Imports to Climb to Record 11 Mln T -Trade
India's 2014/15 Edible Oil Imports to Climb to Record 11 Mln T -Trade
24/01/2014 (Reuters) - India's total edible oil imports in 2014/2015 are projected to rise to a record 11 million tonnes, a trade body said on Thursday, as food and fuel demand from the world's top consumer grows higher.
B.V. Mehta, executive director of the Solvent Extractors Association, also said at an industry meet in Kuala Lumpur India's crude palm oil imports in the 2014/2015 oil year will likely drop to 4.3 million tonnes from 5.9 million tonnes previously.
Refined palm olein imports are projected to climb to 3.80 million tonnes from 2.22 million tonnes, Mehta said, despite the Indian government's decision to raise its import duty on refined edible oils, including palm oil, to 10 percent from 7.5 percent.
B.V. Mehta, executive director of the Solvent Extractors Association, also said at an industry meet in Kuala Lumpur India's crude palm oil imports in the 2014/2015 oil year will likely drop to 4.3 million tonnes from 5.9 million tonnes previously.
Refined palm olein imports are projected to climb to 3.80 million tonnes from 2.22 million tonnes, Mehta said, despite the Indian government's decision to raise its import duty on refined edible oils, including palm oil, to 10 percent from 7.5 percent.