03/12/2007 (The Economic Times), New Delhi - The government hopes the import of edible oils in the current oil year would be about two lakh tons less than the quantity imported in 2006-07 on the back of increased domestic production.

The country may require to import 45 lakh tons of edible oils during 2007-08 season compared to 47.15 lakh tons bought during 2006-07 oil year, Agriculture Minister Sharad Pawar told Lok Sabha today.

The government estimates the demand in the current year to go up to 128.81 lakh tons from 124.10 lakh tons in the previous season. Oil year runs from November to October.

According to a provisional estimate, the net availability of edible oils through domestic sources would be 83.81 lakh tons this oil year compared to 71.43 lakh tons in 2006.

In a written reply, Pawar said that India imported 27.66 lakh tons of palm oil worth Rs 5,629.14 crore in 2006-07 from countries like Bhutan, UAE, Morocco, Bangladesh, Sri Lanka, Cambodia, China, Singapore, besides the leading producers Malaysia and Indonesia.

He also said 12.16 lakh tons soyabean oils, valued at Rs 3,103.68 crore, were brought into the country in 2006-07 from the US, Argentina, Brazil, UAE, China, Germany, the Netherlands, Bangladesh, Nepal and Indonesia.

Admitting that prices of edible oils in the country have gone up in that last three years, Pawar said government has taken several steps like cut in import duty and higher MSPs for oilseeds to ensure their availability and check prices.