Veg oil imports may rise 20%
NEW DELHI: Vegetable oil imports may rise by 20% to touch 7.5 million tonne in 2008-09 season ending October this year on the back of zero import duty on cooking oil, according to industry estimates. Imports of vegetable oils, have increased by 59% to nearly 36 lakh tonne during November 2008 to March 2009 of the current oil year (November-October), but industry official expect imports to slow down in the remaining seven months. “We expect the vegetable oils import at 7.2-7.5 million tonne in 2008-09 oil year,” said Mumbai-based Solvent Extractors Association of India executive director BV Mehta.