According to the Solvent Extractors' Association (SEA) Indias vegetable oil imports jumped 9.5% to 4,802,153 tonnes in the first 11 month of the oil year (November-October 2006-07) from 4,385,723 tonnes in the corresponding period the previous year. This was due to rising edible oil demand.Imports of total edible oil climbed up 11.47% to 4,213,724 tonnes in November-September 2006-07 as against 3,780,112 tonnes in the corresponding period last year. However, non-edible oil imports dipped 2.84% from 605,611 tonnes in November-September 2005-06 to 588,429 tonnes in November-September 2006-07.
Imports of refined oil has reduced from 115,602 tonne to 102,622 tonne and imports of crude oil increased to 3,664,381 tonne from 3,300,941 tonne in November 2006 to August 2007 as against the corresponding period previous year.
The share of palm oil products imports gained 66% to 2,775,803 tonnes compared with 57% to 2,165,548 tonnes, while that of soft oil declined 34% to 1,437,921 tonnes from 43% to 1,614,564 tonnes in November-September 2006-07 compared with the corresponding period last year.
The total import of non-edible oil moved down 588,429 tonnes in November-September 2006-07 from 605,611 tonnes in November-September 2005-06.
According to the fourth advance estimates released by the agriculture ministry in July 2007, oilseeds output is estimated at 23.88 million tonnes in FY 2007 - down 14.65% from the final production estimates of 27.98 million tonnes in FY 2006.
The government has reduced customs duty on edible oil imports to boost the domestic availability and keep prices under check.
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