Veg oils import down at 6.3-lakh tonne in March.

NEW DELHI: India’s vegetable oils import fell by one per cent to 6.32 lakh tonnes in March on higher inbound shipments in previous months, according to industry data released on Tuesday.

The country had imported 6.41 lakh tonnes of vegetable oils comprising edible and non-edible oil in March 2009.

Edible oils import increased to 6.12 lakh tonnes in March 2010 from 6.09 lakh tonnes in March 2009, while that of non-edible oil fell to 20,575 tonnes from 31,588 tonnes.

“The import during March 2010 is lower due to higher imports during the first quarter of the (oil) year and larger stocks at ports and in pipelines,” the Solvent Extractors Association Executive Director, Mr B.V. Mehta, said in a statement.

The oil year runs from November to October.

However, the overall import of vegetable oils rose 4.3 per cent to 37.47 lakh tonnes during November 2009 to March 2010 compared with 35.92 lakh tonnes in the corresponding period of the previous year.

Non-edible oil imports rose by 2.5 per cent to 1.62 lakh tonnes during November 2009 to March 2010 compared with 1.58 lakh tonnes in the year-ago period, while edible oils imports increased to 35.85 lakh tonnes from 34.34 lakh tonnes.

“Although, the import has slowed down in recent months, the overall import has increased during November 2009 to March 2010 due to lower crushing,” he said.

Also, strengthening of the rupee against the US dollar coupled with zero import duty on crude vegetable oils and marginal duty on refined vegetable oils supported import during this crushing season in India, he added.

Mr Mehta pointed out that the current stock of edible oils as on April 1, 2010, at ports is estimated between 7-8 lakh tonnes, while another 5-6 lakh tonnes are in the pipeline.

Source : Business Line