New Delhi: India’s edible oil imports declined marginally by 1.6% to 119.35 lakh tonnes in the first nine months of 2023-24 marketing year ending October, according to industry body SEA. Imports of cooking oils stood at 1,19,35,227 tonnes during November 2023-July 2024 period as against 1,21,22,711 tonnes in the corresponding period of 2022-23 marketing year.
Oil marketing year runs from November to October. More than 50% of India’s cooking oils demand is met through imports.
Solvent Extractors’ Association of India data showed that imports of non-edible oils, however, increased to 1,88,955 tonnes from 1,32,242 tonnes. The total import of vegetable oils during the first nine months of the current oil year stood at 121.24 lakh tonnes, down 1% compared to 122.55 lakh tonnes in the year-ago period.