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Saturday, September 15, 2001



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Aug edible oil imports at record high

Our Bureau

MUMBAI, Sept. 14

EDIBLE oil imports into the country in August reached an all time high of 6.54 lakh tonnes (lt), according to arrival data compiled by the Solvent Extractors' Association of India. This takes the aggregate arrivals in the first 10 months of the current o il year (November 2000-October 2001) to 41.5 lakh tonnes, sharply up from 34.7 lt witnessed during the same period last year.

August arrivals comprised mainly soyabean oil 3.09 lt, crude palm oil 2.12 lt and 88,800 tonnes of refined palmolein. November 2000-August 2001 data showed that crude palm oil and soyabean oil have dominated the import basket. While crude palm oil import s shot up to 12.8 lakh tonnes from last year's 5.6 lt, soyabean oil arrivals doubled to 10.5 lt as compared with the same period last year.

There has been a distinct shift to import of crude oils following Government's fixing differential duty. The share of crude oils in the import basket expanded from 47 per cent (16.3 lt) in the first 10 months of 1999-2000 to 66 per cent (27.4 lt) in the current year. This has meant processing and value addition in India.

In the non-edible oil section, imports totalled 2.14 lt during November 2000-October 2001, up some 13 per cent from same period last year.

Related links:
Huge imports of edible oil in the offing
Edible oil imports decline in June

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