Question : IMPORT OF EDIBLE OIL



(a) the extent to which the free import of edible oil affected the prices offered to Indian farmers; (

(b) whether the imports of edible oil exceeds 10% during the current year; and (

(c) the foreign exchange outflow due to this trend?

Answer given by the minister


MINISTER OF STATE IN THE MINISTRY OF CONSUMER AFFAIRS AND PUBLIC DISTRIBUTION

(SHRI V. SREENIVASA PRASAD)

(a) In the current season for some time soyabean prices fell below the Minimum Support Price (MSP) basically because of the low prices of both oil and de-oiled cake in the international market. The ruling market prices of soyabean are however, well above the MSP.

(b) Based on the returns received from the importers, the imports of edible oils in the Oil Year (November-October) 1997-98 and 1998-99 have been 18.93 lakh tonnes and 35.06 lakh tonnes respectively.

(c) Precise figures of foreign exchange Outflow on account of oil imports in the current year are not available. However, according to estimates by the trade, the cost of imports is around Rs.1500 crores.