In the current year, ending at the end of October, vegetable oil import into India will be 14.3 million tonnes, which is 2% or 300,000 tonnes less than the previous year.
It is planned the import duty on oils to be raised, which will further reduce import and increase oil production in the country.
The increase in processing will be critical for the country. Oil stocks in India are expected to grow 20% to 38.2 million tonnes. Greater consumption will be needed for maintaining the balance.
Egypt purchased 31,000 tonnes of sunflower oil and 30,000 tonnes of soybean oil for August 5th -21st shipment