KUALA LUMPUR, Aug 18 (Bernama) -- India expects to triple its palm oil imports to about 10 million tonnes by 2012 to fuel its rapidly growing economy.

Although India produces its own palm oil, it still imports the bulk of its requirements and at least 70 percent or 3.7 million tonnes of its edible oil comes from Malaysia and Indonesia.

"Our projection is that in the next five years, our import will increase from 3.7 million tonnes to 10 million tonnes," said India's Ministry of Commerce and Industry special secretary Gopal K. Pillai.

"Our requirements are increasing every year and imports are growing by 10 percent every year now," he told reporters after holding talks with Asean officials on the Fee Trade Agreement (FTA) here Friday.

"We told Asean we want more palm oil from you. In the next few years we will buy three to five million tonnes more.

"You have to find palm oil, (or) you won't have enough to supply us," he said, adding that the tariff on the commodity was not an issue as India would still continue to buy since there was a shortage of supply to meet local demand.

Pillai said India's tariff regime on palm oil was designed to protect domestic farmers so that they received subsistence wages and the FTA was meant to improve the economic conditions of both India and Asean.

"Where there is sensitivity, it has to be protected. Even Asean is protecting its own sensitivities. So both have to respect each other's sensitivities."

He said the farmers' livelihood was a major concern for India and the government had the responsibility to protect their welfare.

-- BERNAMA