A 14-fold jump in soyabean oil imports from Nepal triggers red flags in India

News Snapshot:

Soyabean oil imports saw a sharp 14-fold surge from neighbouring Nepal during the April to November period in 2024 compared to the previous year, even as Kathmandu remains a marginal producer of the commodity, an analysis of data from the Commerce and Industry Ministry has shown. This comes as overall soyabean oil imports in India are showing a rising trend, with a 19 per cent overall surge in the April to November 2024 period to nearly $3 billion compared to $2.5 billion in 2023. However, during the comparable period, Brazil — one of the top producers of the commodity —...