look news india
In the festive season, once again it is the turn of the common people to bear the brunt of inflation. India's edible oil imports fell 29 percent year-on-year to 10,64,499 tonnes in September. Edible oil prices have declined due to lower imports of crude and refined palm oil. This information has come out from industry data. In the same month last year, the import of edible oil was 14,94,086 tonnes.
the price has increased so much
Oil prices have increased by 10 percent in the retail market. The biggest rise is being seen in mustard oil. The prices of soybean and sunflower oil have also been increasing for some time. According to experts, an increase in oil prices may be seen in the next few times. On the other hand, due to the festive season, the demand for edible oil is improving in the country. Because of this, the import of palm oil in October may exceed 7 lakh tonnes.
According to the information, import data of vegetable oil (both edible and non-edible) has been released for September. Non-edible oil imports declined to 22,990 tonnes in September from 57,940 tonnes year-on-year. According to the data, vegetable oil imports declined by 30 percent to 10,87,489 tonnes in September, which was 15,52,026 tonnes a year ago.
due to which sales have decreased
According to the data, the import of crude palm oil in the edible oil category fell to 4,32,510 tonnes in September this year, which was 7,05,643 tonnes in the same month last year. Whereas the import of refined palm oil has decreased from 1,28,954 tonnes to 84,279 tonnes. Crude sunflower oil imports also fell to 1,52,803 tonnes from 3,00,732 tonnes. SEA attributed the decline in imports during July-August to excess imports and lack of demand. In such a situation, the stock at the ports increased. Moreover, importers have become cautious due to price fluctuations.