Veg oil imports surge 37%

Imports of vegetable oil (edible and non-edible) surged 37 per cent to 3,88,278 tonne in June this year compared with 2,82,478 tonne in the same month last year, according to the Solvent Extractors' Association of India.

However, edible oil imports between November 2005 and June 2006 recorded a decline of 15 per cent to 25,88,870 tonne against 30,62,419 tonne in the same period last year.

Imports of refined oil, too, dropped in the eight-month period, to 99,028 tonne from 3,40,152 tonne, thanks to a correction in tariff value and widening difference between CPO (crude palm oil) and RBD (refined, bleached, deodorised) palmolein that had encouraged imports of CPO over the refined palmolein variety.

The fall in imports of refined oil came down to 4 per cent during November 2005-June 2006 from the 11 per cent decline in the same period last year, while the rise in imports of crude edible oil went up to 96 per cent from 89 per cent in the same period last year.

Imports of palm oil products during the eight months of the current oil year (November-October) stood at 1,476,460 tonne and that of soft oil at 11,12,410 tonne "� largely soybean oil (10,00,920 tonnes).

The raio between palm oil and soft oil imports during the first eight months of the current oil year was 57:43 compared with 66:34 last year.

Sunflower oil imports during November-October stood at 86,844 tonne, mostly under the tariff quota, against 2,018 tonne in the same period last year.

Imports of non-edible oil during June 2006 created a record at 80,962 tonne compared with 22,351 tonne in June 2005 "� a whopping 264 per cent increase.

Imports between November 2005 and June 2006 shot up 84 per cent to 4,24,338 tonne from 2,30,533 tonne in the last comparable period.