28/11/2007 (My Iris) - Palm oil imports increased by 13% to 2.766 million tons in 2006-07 from 2.449 million tons during previous year, in the wake of rising demand.

Commerce and Industry Minister Kamal Nath said that import of palm oil is free under the present policy. He said that imports are permitted to maintain uninterrupted supply at affordable prices to the consumers as domestic production is insufficient to meet the edible oil demand.

While palm oil imports have shot up to 2.766 million tons in 2006-07, it is much below the record 35.03 lakh tons during 2004-05, Nath said in the Lok Sabha in a written reply.

India`s exports to the major SAARC countries are higher than imports in the last three years.

Exports to Bangladesh stood at USD 1,641.11 million, while imports amounted to only USD 138.3 million between 2004 and 2007.

Exports to Sri Lanka stood at USD 1,897.81 million against USD 475.58 million imports while exports to Pakistan were higher at USD 853.29 million compared to imports of USD 199.26 million in the last three years.

India exported goods worth USD 843.87 million to Nepal while imports were worth USD 343.88 million during the 2004-07 period.

However, for Bhutan, the trade is tilted towards the neighboring country as exports stood at USD 80.42 million compared to imports of USD 100.4 million.