India’s vegetable oil imports likely be record 10.9 mt

Tuesday, 19 March 2013 00:03 - - {{hitsCtrl.values.hits}}

NEW DELHI, MAR 18: India is expected to import a record 10.9 million tons (MT) of vegetable oils this year, up by 7 per cent over the last year, the Solvent Extractors’ Association (SEA) said today.

The world’s second largest cooking oil consumer had imported 10.19 million tons of vegetable oils in 2011-12 oil year (November-October). More than 80 per cent of total imports comprised of palm oil.

“The import of vegetable oils during 2012-13 is likely to increase by about 5-7 lakh tons and estimated in the range of 10.7 million tons to 10.9 million tons,” Mumbai-based SEA said in a statement.

Domestic vegetable oil production is expected to improve marginally to 8.19 million tons in the current year but overall oilseeds crop is seen slightly lower at 25.61 million tons over the last year, it said.

Of the total oilseeds crop production this year, about 15.8 million tons of production is expected to come from the kharif (summer) season, while the rest 9.79 million tons from the rabi (winter) season, it added.

The country’s overall production of nine oilseeds stood at 26 million tons in the last year.