Crude and Refined Oil Imports Up by 68.1% and 64.4%

Total import of sensitive items for the period April-December 2011 has been Rs.75948 crores as compared to Rs.52492 crores during the corresponding period of last year thereby showing an increase of 44.7%. The gross import of all commodities during same period of current year was Rs.1651240 crores as compared to Rs.1228075 crores during the same period of last year. Thus import of sensitive items constitutes 4.3% and 4.6% of the gross imports during last year and current year respectively.

Imports of milk & milk products and food grains have declined at broad group level during the period. Imports of all other items viz. edible oil, automobiles, fruits & vegetables (including nuts), pulses, rubber, products of SSI, cotton & silk, spices, alcoholic beverages, marble & granite and tea & coffee have increased during the period under reference.

In the edible oil segment, the import has increased from Rs.20791.5 crores last year to Rs.34854.3 crores for the corresponding period of this year. The imports of both crude oil as well as refined oil have gone up by 68.1% and 64.4% respectively. The increase in edible oil import is mainly due to substantial increase in import of crude palm oil and its fractions.

Imports of sensitive items from Indonesia, China P RP, Malaysia, Argentina, Germany, Korea RP, Ukraine, United States of America, Canada, Myanmar, Japan, Thailand, United Kingdom, Cote D’Ivoire, Guinea Bissau, Ghana, Benin, Vietnam soc Republic etc. have gone up while those from Brazil, Australia etc. have gone down.

[Source: Ministry of Commerce & Industry, PIB Press Release dated 1^st March 2012]