June edible oil imports up

A rise in arrivals of soyabean and sunflower oils into the country saw edible oil imports increase 41 per cent during June, while overall imports during the oil year to October increased six per cent.

According to the Solvent Extractors Association of India, edible oil imports during June totalled 5.47 lakh tonnes (lt) compared with 3.88 lt during the same period a year ago. For the November-June period, imports totalled 27.49 lt against 25.89 lt.

Non-edible oil imports, too, increased six per cent to 4.5 lt during the period.

Crude vegetable oils continue to dominate the import basket making up 98 per cent of total shipments into the country against 96 per cent last year and 97 per cent the previous year. However, the association said import of RBD (refined, bleached & deodorised) palmolein was showing an increasing trend during the last few months, with over 15,000 tonnes arriving in June. However, overall refined oil imports were down at 67,800 tonnes during November-June against 99,025 tonnes.

The share of palm group of oils in the total edible oil imports has increased to 71 per cent (19.49 lt ) this season from 57 per cent (14.76 lt) a year ago. Imports of soft oils such as crude soyabean and sunflower oils declined to 7.80 lt from 11.12 lt.

Within soft oils, imports of soyabean oil declined to 6.50 lt from 10 lakh tonnes last year, while sunflower oil increased to 1.41 lt from 86,844 tonnes.

According to the Solvent Extractors Association, reduction in import duty on palm group of oils and sunflower oil has led to the current trend.

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Source: thehindubusinessline.com