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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

11/11/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Bernama

CATEGORY

HEADLINE

India's E-oil Imports Hits New High of 5.15 Mln To
NEW DELHI, Nov 4 (Bernama) -- Edible oil imports by India from November2002 to October 2003 oil year, reached a new high of 5.15 million tonnes,up from 4.43 million tonnes previously.

Palm group of oils dominated the import list with 3.85 million tonnes,accounting for close to 75 percent of total imports, according toOilmandi.com, a vegetable oil industry portal.

Higher imports were necessitated by a sharp reduction in domesticvegetable oil production as indigenous oilseeds output suffered because ofdrought.

Edible oil imports during the month of October were estimated at 426,000tonnes, according to data from the portal, said a report in theMumbai-based Hindu Business Line.

Imports during the month comprised 235,000 tonnes of crude palm oil;112,000 tonnes of refined palmolein; 36,700 of crude palmolein and 25,300tonnes of crude soyabean oil.

The rest was accounted for by crude palm kernel oil (9,700 tonnes) andcrude sunflower seed oil (7,500 tonnes), the report added.

The report said in 2003-04, world major oilseed output was forecasted torise about 18 million tonnes to reach a record of 347 million tonnes.

This would result in a six million tonnes increase in global vegetable oilproduction to around 101 million tonnes.

Interestingly, the report said contrary to prognoses and forecasts of acrash in international prices based on higher global output, the marketremained stubbornly firm during the last several weeks.

-- BERNAMA