Chennai: Prices of edible oils are showing a downward trend, except for gingelly oil. According to the Tamil Nadu Oil and Seeds Association, palmolein and sunflower oil imports have helped in the lowering of prices.The quantity of total edible oil imported through Chennai Port has been 4.13 lakh tonnes as of November 1998, against 4.60 lakh tonnes the previous year for the corresponding period - slightly lower in comparison. Nevertheless palmolein, an oil of major consumption here was imported to the tune of 3.46 lakh for the same period tonnes against 3.43 lakh tonnes in the previous corresponding year.
All India figures also show a growth in the import of palmolein as well in the import of 20.86 lakh tonnes against 17.50 lakh tonnes the previous year. However, despite a complete exemtion from sales tax given to edible oils by the Tamil Nadu government (recently extended even to rice bran oil and cotton seed oil, not consumed much here), groundnut oil and gingelly prices have risen.
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