21/04/2009 (Indopia), New Delhi - India & a poss edible oil imports are projected to decline by 12 per cent to around 6 million tonnes in 2009-10 season due to an expected rise in domestic output and large carry-over stocks, the USDA said in a report.
" Edible oil imports in 2009-10 are forecast at around six million tonnes, 12 per cent below the 2008-09 imports due to a likely increase in domestic production and large carry-over stocks,"US Department of Agriculture said in a report.
The marketing season runs from October to September.
The Department has estimated 2008-09 edible oil imports at 7 million tonnes, with palm oil constituting 83 per cent of total imports.
Palm oil imports in 2008-09 are revised upwards to 5.8 million tonnes from the earlier estimate of 4.6 million tonnes while soyabean and sunflower oil imports has been revised upwards by over 2,00,000 tonnes to 8.5 lakh tonnes and 32 lakh tonnes respectively.
Imports of edible oils during the first six months of 2008-09 are up by 73 per cent at 4.2 million tonnes Imports of palm and soya oil are up by 65 and 38 per cent respectively due to steep fall in their global prices and Indian government efforts to keep prices lower by reducing or abolishing import duties, the report said.