The country may import about 13.5 lakh tonne of edible oil during the first quarter of the new season in 2008-09 (November 2008 to January 2009) as consumption will increase by nearly 4% over the previous year, GG Patel, a leading edible oil trader, said. The total consumption of edible oil will be around 63.10 lakh tonne during the first six months (November-April period) of the 2008-09 season.
?The import may be reduced to 11.15 lakh tonne during the second quarter (February-April) of the season as the prospects for rabi crops are bright. Our requirement of imported oil is expected to be around 24.55 lakh tonne during the first six months of the season,? Patel said. During the six months of the corresponding period in 2007-08, the country imported about 22.5 lakh tonne.?Our requirement of imported oil may increase by about 2 lakh tonne during the first six months of the 2008-09 season,? he said. The total consumption of edible oil during the first six months of the next season will remain steady at 31.50 lakh tonne. The total oilseed crop is expected to rise to 177 lakh tonne during the kharif season of the oil year 2008-09 from 171 lakh tonne recorded during the 2007-08 season, posting an increase of 6 lakh tonne.?The opening stock as on November 1, 2008 may drastically be reduced to 5.5 lakh tonne, while we should maintain a closing stock of around 9 lakh tonne which amounts to 25 days? consumption,? he said. ?Edible-oil import may reach 53 lakh tonne during the current oil year of 2007-08 and may increase by 2-3 lakh tonne during the season 2008-09 provided the next rabi crop is better,? Patel added.
Out of the current kharif crop, the overall potential of availability of edible oil may be less by 4 lakh tonne over the same period recorded last season.Total availability of edible oil during the kharif season is estimated to be lower at 46.16 lakh tonne. from 50.13 lakh tonnes in the previous year, down by 3.97 lakh tonne.