Crude oil shipments up

Our Bureau

Mumbai, June 15

Edible oil imports into the country during the seven months (November-May) of the current oil season 2005-06 decreased by 21 per cent to 22,00,592 tonnes from 27,79,941 tonnes in the year-ago period.

Imports in May stood at 3,99,151 tonnes from 5,65,674 tonnes last year, down 29 per cent, according to data compiled by the Solvent Extractors' Association of India.

Widening difference

Import of refined oil fell to 90,779 tonnes from 3,19,654 tonnes, thanks to correction in tariff value and widening the difference between crude palm oil (CPO) and refined palmolein that has encouraged the import of CPO over refined palmolein.

During the review period, import of refined oil decreased from 11 per cent to 4 per cent, while that of crude edible oil increased to 96 per cent from 89 per cent.

Palm oil products imports during the review period were reported at 12,74,296 tonnes (58 per cent) and soft oil imports at 9,26,296 tonnes (42 per cent) mainly soyabean oil import (8,18,306 tonnes).

The ratio between palm oil and soft oil imports was 58:42 compared to 66:34 last year.

During the period, 83,844 tonnes of sunflower oil was imported, mainly under tariff rate quota compared to 2,018 tonnes.

(This article was published in the Business Line print edition dated June 16, 2006)
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