Olive oil imports up 52% despite weak rupee

The country’s olive oil imports increased over 52% in 2011-12, in line with a rise in consumption. This growth is despite the weakening of the rupee that has made imports costlier. Olive oil imports touched 6,485 tonnes against 4,261 tonnes the previous year, said the India Olive Association. The growth trend in imports would be sustained in the current fiscal year, as consumption is expected to remain strong on rising awareness of health benefits of olive oil. Rising affordability and increasing exposure to western lifestyles is aiding the consumption trend.