Imports Of Edible Oil Up; Non-Edible Oil Down

Mumbai: The Centre’s move to tighten the laws with regard to import of crude palm stearin seems to have paid off with imports of non-edible oil dropping 11 per cent during the 2006-07 oil year that ended in October.

“The Centre raised the duty for crude palm stearin imports in August, and tightened up its monitoring,” said trade sources.

Non-edible oil imports declined to 6.29 lakh tonnes (lt) from 7.09 lt the previous year as a result.

On the other hand, import of edible oils increased 7 per cent during the just-ended oil year.

Again, the last quarter of season witnessed a 3 per cent fall in imports.

The Solvent Extraction Association of India Executive Director, B.V. Mehta, said import slid during the last quarter as there was a definitive indication of the kharif oilseed being higher at 165 lakh tonnes this year.

“And last year, during the same period, there were indications of a lower crop that led to higher imports.”

Higher edible oil prices in the global market also led to a slower growth in imports, according to Mehta.

Crude palm oil (CPO) and sunflower oil imports rose sharply mainly on account of duty cut from 70 per cent to 45 and 40 per cent respectively.

Imports of sunflower oil witnessed a rise of 93.06 per cent at 1.95 lt from the previous 1.01 lt, according to data released by Solvent Extractors Association of India.

Major share

Crude palm oil (CPO) imports continued garner a major share over soyabean oil in the total import basket.

CPO imports increased by 26.16 per cent to 29.94 lt.

Soyabean oil imports declined by 22.31 per cent to 13.23 lt.

As a result, share of the palm group of oils increased to 67 per cent of the total oil import from 58 per cent previously.

Total imports of palm group of oils (including CPO) increased by 23.47 per cent to 31.72 lt.

Consistent decline

With the Centre being clear in discouraging direct imports of refined oils into the country, there has been a consistent decline in the imports of RBD palmolien in the last three years.

RBD palmolein imports were 1.15 lt against 1.13 lt and sharply down from 4.23 l t (04-05).

Total Indian edible oil imports for the last oil year 2006-07 (Nov-Oct) were seven per cent higher at 47.15 lt.

Total imports of edible oils, including vanaspati and non-edible oils, were 55.9 lt against 54.3 lt the previous year.

Vanaspati imports fell by 50,000 tonnes and were estimated at 2.5 lt against three lt year-on-year.

This oil year, imports could total 56-59 lt, according to Mehta.