Import of
Edible oil may increase: for ‘99-00’
Flooding
of markets with cheap edible oils hit the oil seed growers in the country. It has
adversely effect the domestic oil industry and results into distress sales of the
produce.import of edible oil this season are likely to scale a new high surpassing the 50
lakh tonne mark, costing the exchequer more than Rs. 11,000 crore, if the first half
import trend is any indication.
Imports
during the season November ‘99-April ’00 – are estimated to have touched
18.68 lakh tonnes, recording a 32% increase over 14.18 lakh tonnes during the
corresponding period last year. Total imports during the last season had touched a
staggering 43.93 lakh tonnes against 20.89 lakh tonnes during the ‘97-98 season.
The
downtrend gathered momentum thereafter and it reached a low of $320. As a result, RBD
palmolein imports during first half of the current season have crossed 10 lakh tonnes,
recording a 63 % jump over the 7.21 lakh tonnes imported during the same period of the
last season.
The
vanaspati industry is allowed to import raw vegetable oils. Last month imports stood at
1.38 lakh tonnes, accounting for 47% of the total oil imports of 2.98 lakh tonnes. |
