NEW DELHI, Dec 4 (Bernama) -- India is the world's leading consumer andimporter of edible oils, says a report in the financial daily, EconomicTimes.

In 2001-02, India consumed more than 10.6 million tonnes of edible oils,from domestic production and imports, up from about two million tonnesannually in the early 1970s, says the report quoting the information fromthe US Department of Agriculture.

This placed India behind only China and European Union in totalconsumption. Imports accounted for more than 50 percent of India'sconsumption.

India accounted for over 15 percent of global vegetable oil imports in2002-03, which is growing by leaps and bounds in the current financialyear (April-March), says the report.

Over the last three months, major Indian ports such as Mumbai, Kandla,Vizag and Kolkata have received dozens of ships carrying crude palm oil(CPO), soyabean oil (SBO), sunflower oil and peanut oil among others. Mostof the ships came from Malaysia and Indonesia.

During the last week of November (Nov 24-30), Chennai Port received threevessels with 16,000 tonnes of CPO. During the same period, Kandla received15,500 tonnes of CPO in two vessels. The cargo came from Indonesia.

During the same period, Mundra Port received 18.800 million tonnes of SBO,while Kolkata Port received 17,000 tonnes of CPO in two vessels. The cargowas loaded from Indonesia.

"Indian importers tend to seek the lowest prices of oil, usually palm oilfrom Malaysia and Indonesia. When SBO is more competitively priced, Indianimporters usually seek lower priced SBO from Argentina and Brazil," thepaper quoted USDA as saying

Indian demand-supply, said the report, had started to drive the globalprices.

The report said India's consumption pattern had shown an apparent shifttowards imported palm and soyabean oils.

Until the 1970s, peanut oil accounted for over 50 percent of consumption,rapeseed 25 percent and cottonseed oil nine percent, reflectingtraditional pattern of domestic oilseeds production.

However, palm oil and SBO have become the leading edible oils, accountingfor 38 percent and 21 percent of total consumption in 2000.

--BERNAMA