Govt imports 2.60 lakh tn edible oil

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New Delhi, Aug 1: Though its much-publicised cheap edible oil sale has already been launched, the central government has managed to import just around 2,60,000 tonne of edible oils till July, against a total requirement of 10 lakh tonne.

The scheme provides for distribution one million tonne of imported edible oil during 2008-09 at a subsidy of Rs 15 per kg through state government-run public distribution system (PDS). The edible oil will be provided at the rate of Re 1 kg per ration card per month. The subsidy on oil will be to the tune of Rs 1,500 crore.

State-owned agencies like PEC, MMTC, STC and NAFED have been entrusted the job of import, refining, packing and distribution of subsidised edible oils to the states.

Till July 21, out of a demand of 88,900 tonne of edible oils, 39,800 tonne have been delivered to various states. The states, which have demanded significant quantity of imported edible oil include Andhra Pradesh (20,750 tonne), Maharashtra (18,200 tonne), Tamil Nadu (15,500 tonne) and Orissa (6800 tonne).

Prices of the edible have seen a sharp rise in the last one-year due to increase in palm oil prices globally. In a bid to curb rising prices of edible oil, the government, in March, had announced an import duty cut on palm oil.

In 2007, the import duty on crude palm oil was 70%, on refined palm oil was 80%, crude sunflower oil was 75%, refined sunflower oil was 85% and on soya oil was 45%.