Overall import of vegetable oil increases by nine per cent

Mumbai, Aug 14 (UNI) The overall import of vegetable oil (edible and non edible) during the first nine months of the year have shown an increase of 9 per cent at 4,138,518 tonne compared to 3,780,642 tonne during the same period of previous year.

The Solvent Extractors Association of India today said, in a release, that during the period from November 07 to July 2008, the total import of edible oil was reported at 3,629,012 tonne compared to 3,297,769 tonne, up by 10 per cent, while import of non-edible oil was 509,506 tonne compared to 482,873, which was a rise of 5.5 per cent.

In the last two months, RBD palmolein and Soyabean oil prices have gone down by about USD 350 dollar and sunflower oil price has crashed by USD 630, due to bearish trend in the international market.

The government buying of refined oil (RBD Palmolein) for PDS distribution has resulted in an increase of import of the same, reported at 77,973 tonne in July 2008. The total import of RBD palmolein during Nov 07 to July 08 was 283,172 tonne, the release added.

On the other hand, the import of edible oil went down. As in July 2008 it was reported at 532,456 tonne compared to 548,908 tonne for the same period of last year, while non edible oil import was up at 38,939 tonne compared to 32,688 tonne for the same period last year.

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