MUMBAI Jan 13 India's vegetable oil imports in
December fell 15 percent to 1.2 million tonnes from a year ago
on improved local supplies and as the scrapping of high-value
currency notes squeezed demand, a trade body said on Friday.
The country's imports of palm oil fell 8.5 percent to
723,158 tonnes in the month, while imports of soyoil plunged 53
percent to 232,132 tonnes, the Solvent Extractors' Association
of India said in a statement. bit.ly/2jdUPhF
In November, the Indian government scrapped 500-rupee and
1,000-rupee bills to crack down on corruption, denting retail
demand for edible oils.
India is the world's biggest importer of edible oils. It
imports palm oil mainly from Indonesia and Malaysia, and soyoil
from Brazil and Argentina.
(Reporting by Rajendra Jadhav; Editing by Gopakumar Warrier)