India's vegetable oil imports hit record high

India's vegetable oil imports jumped 23.6% year-on-year to a record high of 14.61 million tonnes in the 2014-15 oil year ended October, industry body Solvent Extractors’ Association said on Monday. The rise was triggered by fallen global prices and a drop in local oilseed production. India, world’s leading vegetable oil buyer, meets 60% of its annual demand through imports.

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