India's June vegetable oil imports rose 593730 tonnes

Tag: Canned Fruit Vegetable

India's vegetable oil imports rose to 593,730 tonnes in June from 590,552 year-on-year, as the slowdown in imports during April to May 2008 dried up the supply pipeline, the Solvent Extractors Association of India said in a statement.

The import of edible oils in June increased to 550,201 tonnes from 302,345 tonnes in May and 309,629 tonnes in April. Imports of non-edible oils fell to 43,529 tonnes in June compared to 59,219 tonnes in May.

India's vegetable oil imports had showed a slowdown in April and May as traders and refiners reduced their inventory due to stock limits imposed by the various state governments 'and fears of harassment by over-zealous civil supplies officers, even though imported oil is exempted from stock limit', the Solvent Extractors Association of India said in a statement.

The trade body said Monday that for eight months from November 2007 to June 2008, edible oil imports were up by 13 percent to 3.09 million tonnes, while imports of non-edible oil were up by 5 percent to 470,567 tonnes.

The overall import of vegetable oil during the first eight months of the oil year rose 12 percent 3.57 million tonnes.

Crude palm oil, RBD palmolein and sunflower oil prices have gone down due to record stocks of palm oil of over 2 million tonnes with Malaysia by end-June 2008 and slowdown in export, the trade body said.