Vegetable oil imports up 21% in August

Vegetable oil imports jumped 21 per cent at 622,000 tonnes in August against 515,000 tonnes in the year-ago period, according to the latest trade data.

In August, edible oil imports stood at 569,000 tonnes, while that of non-edible oil at 53,275 tonnes, Mumbai-based Solvent Extractors’ Association (SEA) said in a statement.

The industry body also said that import of vegetable oils comprising mainly crude palm oil and refined soya oil in the 2007-08 season till August stood at 4.76 million tonnes, against 4.29 million tonnes in the year-ago period.

SEA said the total vegetable oil imported during the ongoing season (November-October) may touch 6 million tonnes, of which 5.1-5.2 million tonnes will be edible oil, 650,000 tonnes non-edible oil and 50,000 tonnes vanaspati. In 2006-07 oil year, India imported 5.59 million tonnes of vegetable oil.

 

“In view of the lean crushing season, import is likely to maintain at around 550,000-600,000 tonnes per month in the next two months till Kharif oilseeds crop is available for crushing in November 2008,” the release said.