The overall import of major edible oils (edible and non-edible) during first eight months (November 2007-June 2008) of the current oil season has shown rise of 12% at 35.67 lakh tonne compared to 32 lakh tonne during the same period of previous year.
Of which, the total import of edible oils increased to 30.96 lakh tonne during November 2007 to June 2008 period compared to 27.48 lakh tonne, up by 13% while import of non-edible oil was reported at 4.70 lakh tonne compared to 4.50 lakh tonne, up by 5%.
The import of edible oils in June 2008 increased to 5.50 lakh tonne compared to 3.02 lakh tonne in May 2008 while import of Refined Oil (RBD Palmolein) is rising from month to month and reported at record import of 92,846 tonne in June 2008 and total import of RBD Palmolein recorded at 2.05 lakh tonne. Crude oil import was reported at 28.91 lakh tonne (93%) compared to 26.81 lakh tonne (98%) for the same period of last year, according to the Solvent Extractors? Association of India (SEA).
?In last two months, crude palm oil, RBD palmolein and sunflower oil prices have gone down. However, crude soybean oil has marginally increased by over $15 per tonne. One of the main reasons for fall in prices of palm oil was the record stocks of palm oil of over 2 million tonne with Malaysia by end June 2008 and slows down in export,? BV Mehta, executive director SEA said.