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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

06/10/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Bernama

CATEGORY

HEADLINE

Edible Oil Imports By India At 4.86 Mln Tonnes Fro
NEW DELHI, Oct 3 (Bernama) -- Edible oil imports by India from November2002 to October 2003 aggregated 4.86 million tonnes, exceeding the wholeyear imports of the previous year by 4.3 million tonnes.

During October, the last month of 2002-2003 oil year, edible oil inflow isexpected to be between 350,000 to 400,000 tonnes, taking the annual importvolume to about 5.2 million tonnes

Edible oil arrivals during September totalled 517,000 tonnes, up from420,000 tonnes in the previous month, according to quick estimates of the`Oilmandi com.' an industry portal.

September arrivals comprised broadly 172,000 litres of degummed soyabeanoil, 203,000 tonnes of crude palm oil, 80,700 tonnes of refined palmolein,39,000 tonnes of crude palmolein and 18,000 tonnes of crude palm kerneloil.

In addition 4,000 tonnes of sunflower oil also arrived, according to quickestimates made available to the financial daily, the Hindu Business Lineby the portal.

Industry watchers found it intriguing that while the domestic industry hasbeen clamouring for a downgrade in the quality specifications of crudepalm oil/olein on the ground that the carotenoid value stipulation isalmost impossible to comply with, over 200,000 tonnes had landed in thecountry, the report said.

However, despite a large oilseeds crop getting ready for harvest, edibleoil prices have remained firm in the spot market because of low inventorylevels, continued rains, anticipating delays in harvest and the festivaldemand.

According to an Agriculture Ministry release oilseeds production this yearis estimated at 15.08 million tonnes registering an increase of 63.6percent over last year. Of the major oilseeds soyabean production isestimated at 7.10 million tonnes whereas groundnut production is estimated5.93 million tonnes this year.

-- BERNAMA