New Delhi, Jan 17 (PTI) The country's vegetable oil import is likely to surge by over 16 per cent to 9.5 million tonne in the 2009-10 oil year beginning October, as domestic shortage is expected to widen due to smaller crop and strong demand, the edible oil industry body SEA said.
India, the world's largest importer of edible oils, had purchased 8.18 mt vegetable oil from the global market last year. The oil year runs from November to October.
"A decline in oilseeds crop due to the drought, lower import duty on refined oils and rising consumption-- all these factors will push the import to 9.5 mt in the current oil year," Solvent Extractors Association (SEA) executive director BV Mehta told PTI today.
Import of edible oil will be about 9 mt while non-edible oils will be about five lakh tonne this oil season, he added.
Source : PTI