The industry data shows that the import of vegetable oils has gone down in January by two per cent, partly due to a comfortable inventory with refining mills.

According to the data available with The Solvent Extractors' Association of India (SEA), the imports were 872,395 tonnes, compared to 888,102 tonnes in the corresponding of the December' 09, there is a decline in 2%.

Report said, "Total imports during the first quarter of the current oil year (November-October), however, rose 10 per cent to 2.4 million tonnes (mt) from 2.19 mt in the comparable quarter of last year."

Mr. V Mehta, executive director of SEA informed that the favourable movement of Indian rupee against the dollar and low (7.5 per cent) tariffs helped.

According to Mehta, the ongoing crushing season is also the reason for decline in imports to India. Generally, imports decline in the peak crushing season (October-March) and then start gradually picking up in the lean season.

Solvent Extractors Association also estimated that 800,000 tonnes of vegetable oil was docked at various ports in India, while 700,000 tonnes was held with refiners, a total of 1.5 mt. As a result, the actual quantity was equivalent to
35 days of domestic consumption, way above the normal inventory level, which does not usually exceed 25 days.