The Hindu Business Line : Edible oil imports down in August

Edible oil imports in August declined by over one lakh tonnes from the previous month to 3.64 lakh tonnes, according to the figures released by the Solvents Extractor's Association of India (SEA).

High international prices, sluggish domestic offtake and large rapeseed/mustard stock with the National Agricultural Co-operative Marketing Federation (Nafed) discouraged larger imports. Edible oil arrivals in the first 10 months of the current oil year aggregated 34.2 lakh tonnes, down sharply from 41.7 lakh tonnes during the same period last year.

Trade projections for imports during September and October are 10-11 lakh tonnes, which would take the total imports during oil year 2005-06 (November-October) to 45 lakh tonnes.

During 2004-05, the country imported 50.4 lakh tonnes of various oils.

Palm oils lose

In the first 10 months, palm group of oils have lost market share to soyabean oil. The share of soyabean oil to total imports is 41.15 per cent during November 2005-August 2006, rising from 37.1 per cent same period last year.

Lower duty on soybean oil at 45 per cent has provided a marketing edge.

Among other oils, sunflower oil imports have shown a rising trend, while refined palmolein arrivals have declined while 17.1 lakh tonnes of crude palm oil and 14.0 lakh tonnes of soybean oil dominate the import basket.

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