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Wednesday, May 18, 2005

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Edible oil imports rise 21 per cent

Our Bureau

Mumbai , May 17

THE country's import of edible oils for the November 2004 - April 2005 period was higher by 21 per cent at 21,95,770 tonnes, compared to 18,15,630 tonnes during the same period the previous year, according to data compiled by the Solvent Extractors' Association of India.

Imports of soft oils, mainly soyabean oil, during the review period increased to 7,67,850 tonnes from 2,79,859 tonnes. Soyabean oil import constitutes over 33 per cent of total imports.

However, imports of palm oil products reduced to 14,27,920 tonnes from 15,35,771 tonnes in the year-ago period.

Imports of edible oils during April 2005 were 5,21,145 tonnes compared to 1,85,955 tonnes in April 2004, almost a three-fold increase.

The overall import of refined palm oil was reported at 2,74,652 tonnes (13 per cent), while crude palm oil import was 19,21,118 tonnes (87 per cent) during April 2005.

The overall import of refined oil decreased while crude oil import increased, thanks to duty difference and resolution of the carotenoid issue in February.

In the non-edible oils category, total imports in April were 30,884 tonnes compared to 17,765 tonnes in the same period last year. The total import of non-edible oil during review period was 1,44,559 tonnes compared to 1,17,486 tonnes in the same period last year.

Crude Palm Stearin and P.F.A.D. are the major non-edible oils being imported.

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