NEW DELHI: India imported 422,383 tonnes of palm oil from Malaysia in December 2021, about 67% more than the 252,005 tonnes recorded in November.
The imports comprised 399,583 tonnes of crude palm oil (CPO), 10,000 tonnes of refined, bleached and deodorised (RBD) palmolein, and 12,800 tonnes of crude palm kernel oil, according to data from the trade group Solvent Extractors’ Association of India (SEA) yesterday.
India’s edible oil imports in December totalled more than 1.2 million tonnes, out of which 47% constituted palm oil.
The government has cut import taxes on edible oil in recent months to curb rising retail prices.
The reduction in duty on refined palm oil products from 19.25% to 13.75% “has the potential to increase” RBD palmolein imports at the cost of CPO, the association said. — Bernama
