Govt allows controlled edible oil export

Govt allows controlled edible oil export

New Delhi: The government on Monday allowed export of edible oils up to 10,000 tonnes in branded small packs during the next 12 months.

In a notification issued on Monday, the Directorate General of Foreign Trade (DGFT) permitted export of 10,000 tonnes of edible oils in branded consumer packs and said the shipments should be done between November 2010 and October 2011.

“The total quantity ceiling permitted for exports is 10,000 tonnes... There shall be no change in packing i.e. exports permitted in branded consumer packs of up to 5 kgs," it said.

The government had banned export of edible oils in April 2008 as parts of measures to control inflation.

However, it had allowed exports of edible oils in small packs of up to 5 kgs, subject to a limit of 10,000 tonnes a year.

The step has been taken to meet the demand for Indian edible oils like mustard oil largely from the NRI community.

However, with a huge deficit of 8 million tonnes, India itself is a major importer of edible oils.

The country imports soyabean oil from Brazil and Argentina, while palm oil from Indonesia and Malaysia.