Nidhi Nath Srinavas 09/11/2002( Asia Intelligence Wire) - The one thingthey now need is a painkiller. Caught between a complete governmentclamp-down on underinvoicing and a zooming international market, all soyaoil brands in India have raised prices in the last two weeks. But theagony, some say, is just beginning.Leading brands like the Adani group's Fortune, in fact, are planning tofurther increase prices in the coming weeks to pass on to consumers somemore of the rise in crude oil prices.Fortune has already raised the price charged to retailer from Rs 37/l amonth ago, to Rs 43/l. Its MRP has risen from Rs 47 to Rs 49/l. Otherslike Cargill's Nature Fresh have raised the MRP from Rs 48/l to Rs 52/l inthe last three weeks.Even the price of soya oil blends have shot up. Marico's Sweekar blend hasrisen from Rs 58 to Rs 63. AgroTch Foods' Sundrop Nutrilite has risen fromRs 52 to Rs 59.Though international markets have always been bullish, the rise has beenparticularly steep in the last one month, when they shot up $450/t to$510/t now.Usually, companies which have contracted their oil in advance stand togain substantially in such a situation as they can sell at far more thanlanded price.But this opportunity was lost when the government clamped down on rampantunderinvoicing by introducing a tariff value on soya oil. Consequently,irrespective of the price at which the oil is contracted, all importershave to pay a duty on a government-determined price of $542/t."The impact of the tariff value has been Rs 2.50/l, while that of risingworld markets another Rs 2/l. But no brand can afford to pass on the totalincrease of Rs 4.50/l at one go. So after this Rs 2/l hike, another one isdefinitely on the cards very soon. But the worst hit are those who wereunderinvoicing, because they now have to pay higher duty to customs thanthe rest," industry watchers said.Most branded players are happy with the imposition of tariff value on soyaas it removes players which were undercutting the market. The governmentfirst imposed a tariff value last year on palm oil and its products toprevent underinvoicing."Obviously the government was not strict enough with those caughtunderinvoicing palm oil last year because the same players were now doingit in soya. Hopefully, action taken by the DRI will be so stringent thisyear that no company will attempt to risk it again," they added.