NEW DELHI, Sept 2 (Bernama) -- Vegetable oil imports by India declinedsharply in August this year despite the coming festival season.
Imports for August were 420,000 tonnes as against 580,000 in July,according to estimate of arrivals by Oilmandi.com, a vegetable oilindustry portal, reported by the financial daily, the Hindu Business Line.
Imports broadly comprised 84,000 tonnes of degummed soyabean oil, 226.000tonnes of crude palm oil, 41,700 tonnes of crude palmolean. In addition9.500 tonnes of crude sunflower oil and 9,100 tonnes of crude palm kerneloil were imported.
The estimate of port-based vegetable oil stock was about 350,000 tonnes,the report added.
Part of the cargo that arrived last month had yet to be cleared fordomestic consumption.
The report also revealed the prevalence of uncertain conditions in theedible oil market.
Following the issue of customs notification on August one specifyingstandards for crude palm oil and crude palmolean, there has been somesuspense over assessment and clearance of imported cargo.
Total edible oil imports during the last 10 months of the year (November2002 to August 2003) works out to 4.34 million tonnes. For the entire oilyear 2002-03 import is projected at around 5 million tonnes.