Imports of vegetable oils during September 2007 was reported to touch 4.47 lakh tonne compared to 3.64 lakh tonne for the same period last year, up by 23% mainly on good demand from South East Asia. However, non-edible oil imports was reported to be 58,818 tonne compared to 68,094 tonne for the same period of last year, down by 14%.
The overall imports of edible oils from November 2006 to September 2007 (11 months) was reported at 42.13 lakh tonne compared to 37.80 lakh tonne in the same period last year, up by 11%, while non-edible oil imports was reported at 5.88 lakh tonne compared to 6.06 lakh tonne, down by 3%, according to import data released by the Solvent Extractors? Association of India (SEA).
Crude Palm Oil (CPO) imports jumped to 26.24 lakh tonne from 19.82 lakh tonne due to reduction of import duty on CPO from 80% to 45% at present. Similarly, import of sunflower oil has more than doubled due to reduction of duty from 75% to 40%.
Imports of refined oils has reduced from 1.16 lakh tonne to 1.03 lakh tonne while that of crude oils further increased to 36.64 lakh tonne from 33 lakh tonne during the review period.
Palm oil products (CPO, RBD palmolein, crude palmolein and crude palm kernel oil) import share has further increased to 27.75 lakh tonne (66%) from 21.65 lakh tonne (57%) while soft oils import reduced to 14.38 lakh tonne (34%) from 16.14 lakh tonne (43%) during the review period.