Edible oil imports decline 12 per cent in Nov-Dec '05

Non-edible imports, however, surge 246 per cent

Edible oil imports during November-December 2005 was down by 12 per cent to 547,653 tonne compared with 622,381 tonne same period last year. Non-edible oil imports rose 246 per cent to a high of 123,694 tonne in two months compared with 35,773 tonne in the year-ago period.

According to the Solvent Extractors' Association, the country has imported 220,068 tonne refined and crude edible oils in December 2005 compared with 305,955 tonne in December 2004.

In December 2005, import of refined oil has increased to 20,539 tonne, which was 11,248 tonne during November 2005, mainly owing to further reduction in tariff value difference between crude palm oil and RBD Palmolein to just $4 a tonne.

The present tariff value for RBD Palmolein is $421, whereas crude palm Oil is $417 a tonne which placed domestic refiners at a disadvantage vis-à-vis imported RBD Palmolein.

Palm oil products import during November-December 2005 was at 376,460 tonne and soft oil import was reported at 171,193 tonne, mainly comprising degummed soybean oil.

Palm oil group share during November-December increased to 69 per cent compared with 58 per cent in the same period of last year. December 2005 witnessed a record import of non-edible oil and reported at 78,692 tonne, compared with 17,897 tonne in December 2004.

The total import of non-edible oil during November-December 2005 was pegged at 123,694 tonne compared with 35,773 tonne during the same period last year.