India's edible oil imports rise 6.7% in May to 13.39 lakh tonnes as soyabean oil leads
Crude soyabean oil imports surged to 4.94 lakh tonnes in May from 3.99 lakh tonnes as its premium over palm oil narrowed. Cumulative Nov-May imports up 13% to 92.17 lakh tonnes. Refined oil share collapsed to 3% from 16% after tariff hikes; government raised CPO and RBD palm oil tariff values from June 1.
India's edible oil imports rose 6.7% in May to 13.39 lakh tonnes, led by crude soyabean oil as its premium over palm oil narrowed. Government raised CPO/RBD palm oil tariff values from June 1; refined oil share dropped to 3% from 16%.