The latest data from the Solvent Extractors’ Association of India (SEA) reveals that India’s edible oil imports experienced a marginal decline of 1.6% to 119.35 lakh tonnes in the initial nine months of the 2023-24 marketing year, ending in October.
During the November 2023 to July 2024 period, imports stood at 1,19,35,227 tonnes, a slight drop from the 1,21,22,711 tonnes recorded in the same period of the previous marketing year. The oil marketing year in India spans from November to October, with more than half of the nation’s cooking oil demand fulfilled through imports.
The SEA data also indicated that imports of non-edible oils rose to 1,88,955 tonnes from 1,32,242 tonnes. Overall, the total import of vegetable oils (edible and non-edible) during the initial nine months was 121.24 lakh tonnes, a 1% decrease from the preceding year’s 122.55 lakh tonnes.