26/10/2011 (Business Recorder) - US vegetable oil imports are likely to touch a new record in October 2011-September 2012 as demand especially for biofuels outstrips supplies, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.

US 2011/12 edible oil imports will rise to 3.90 million tonnes from 3.80 million tonnes in 2010/11, Oil World forecasts.

Palm oil will be the main beneficiary, with 2011/12 US imports likely to rise to 1.02 million tonnes from 0.96 million in the previous season, it estimates.

"Growing import dependence has developed in the US as demand outstripped production in recent years," Oil World said.

"The fact that US biodiesel production has been revived in recent months is also behind our expectations that import requirements will rise further."

US 2011/12 consumption of the 17 main oils and fats will rise to 16.91 million tonnes from 16.35 million tonnes in 2010/11, it forecast.

US 2011/12 output of the 17 oils is seen at 15.82 million tonnes, down from 16.06 million tonnes in the previous season largely because the United States is facing a poorer soybean crop this year.

"The US will further lose importance as a vegetable oil exporter this season," it said.

It forecasts US 2011/12 soyaoil exports will fall to 0.94 million tonnes from 1.46 million tonnes in 2010/11.