STC has already contracted for edible oil worth Rs 247 crore in the current year on government account. Another Rs 100 crore worth has been contracted for on STC's own account.
In 1995-96, the total imports on government account were Rs 414.33 crore. Sales till August 15 were Rs 179.19 crore on the government account. This is far higher than the sales in the corresponding period of the previous year at Rs 106.41 crore.
Last year, STC imported Rs 68 crore oil on its own account. This is to be pushed to Rs 110 crore this year of which Rs 100 crore has been contracted for. It has already sold Rs 45 crore worth of edible oil on its own account.
As a part of its plan to operate in the domestic market, STC is planning to sell branded edible oil consumer packs in India. The turnover from domestic edible oils sales was Rs 22.80 crore in 1995-96. This is expected to be pushed up to Rs 43 crore for this year. Sales to date are equal to the total sales last year.
STC's profit from government supported business (in edible oils, sugar and imported cars) was lower by Rs 17 crore than in 1994-95. Sugar imports are expected to be nil this year on government account.
However, the corporation is exporting sugar, alcohol and molasses. Last year, it exported Rs 17 crore on these items. This is targeted to go up to Rs 30 crore this year. STC has already contracted for Rs 40 crore of sugar exports for the year.
In the past, domestic trading by STC had been confined to undertaking price support operations at the instance of the government. In addition, it undertook sale of imported cars.
However, during the last four-five years the corporation has also been selling edible oils resulting from oilseed crushing operations in the domestic market.
STC's total turnover in 1995-96 was Rs 1685 crore.
This was lower than the Rs 1861 crore turnover in 1994-95.
The target turnover for 1996-97 is Rs 1964 crore. Of this Rs 1189 crore is expected to be on canalised or STC's own account.
