The country’s overall imports of edible oil during 2012-13 are likely to increase by 5 lakh tonne at 103.10 lakh tonne due to deficient rainfall that resulted in decline in acreage, according to an industry expert.
“The imports of edible oil during 2012-13 are expected to increase by 5 lakh tonne to 103.1 lakh tonne compared to 97.8 lakh tonne in FY12,” crop research company G.G Patel & Nikhil Research Managing Partner Govindbhai Patel said.
The entire growth in imports might be in palm oil, which is expected to be 81 lakh tonne in 2012-13 compared to 75 lakh tonne in 2011-12, he added.
A moderate growth of 3.10 per cent is expected in total consumption this fiscal mainly due to higher prices, he said.
G.G Patel further said the total oilseed area this kharif season is expected to decline five per cent due to scanty rainfall in crop growing areas.
“This year, the total oilseed acreage is expected to be around 159.8 lakh hectares compared to 167.9 lakh hectares last year,” G.G Patel said.
Soybean production this kharif season is expected to be on the higher side, but the area under groundnut is expected to decline, he said.
The area under soybean is higher by 400,000 hectares and the total area is expected to be around 107 lakh hectares compared to 103 lakh hectares last year.
On the other hand, the area under groundnut is expected to be lower. Although the sown area by government estimates is 38.1 lakh hectares, the area that will be harvested is estimated to be around 35.1 lakh hectares.