New Delhi: The government has suspended until the end of December a rule that required imports of genetically modified soyoil to be cleared by an official panel, it said in a statement on Tuesday.
The moratorium was originally imposed in May and was due to end this month. Trade critics said last year that getting the panel’s approval would delay shipments and push up prices.
The country imports about two million tonnes of soyoil, mostly from Brazil and Argentina, where transgenic Roundup Ready soybeans are widely grown.
The rule change first came into force in April last year, but was suspended a month later.
“Everybody was sure that the government would extend the suspension,” an Ahmedabad-based edible oils trader said.