Edible oils import slumps by 32 per cent

Vegetable oils (edible) import declined by 32 per cent in April 2006 to 354,284 tonnes from 521,145 tonnes in the same period last year, according to a report from the Solvent Extractors' Association of India.

The total import of edible oil during the last six month ended April 2006, however, witnessed a decline of just 19 per cent to 1,801,441 tonnes from 2,214,267 tonnes in the same period under consideration.

Import of refined oil decreased to 85,479 tonnes compared to 274,652 tonnes of last year, thanks to correction in tariff value and widening the difference between CPO & RBD Palmolein that has encourage the import of CPO over refined palmolein. Import of refined oil has reduced from 12 per cent to 5 per cent while import of crude edible oil increased to 95 per cent from 88 per cent during the six month ending April 2006.

Palm oil products import during aforementioned six month period is reported at 1,022,985 tonnes (57 per cent) and soft oil import is reported at 778,456 tonnes (43 per cent) mainly soybean oil (688,806 tonnes).

The ratio between palm oil and soft oil during the first half year of current oil year is 57:43 compared to 65:35 of the last year. During first first half year, 75,344 tonnes of sunflower oil import, mainly under tariff rate quota has arrived compared to 2,018 tonnes import during the same period of last year.