Free Demo Request

CCEA allows bulk export of all edible oils, except mustard

Date 29-Mar-2018
Subject CCEA allows bulk export of all edible oils, except mustard

EW DELHI: The Cabinet Committee on Economic Affairs on Wednesday allowed bulk exports of all edible oils except mustard. Mustard oil, it said, will continue to be exported only in consumer packs upto 5 kgs and with a minimum export price of $900 per tonne. 

“In order to support growing production of oilseeds and to explore additional avenues for marketing of edible oils, it is required to allow bulk export of all edible oils with the exception of mustard oil, which is an item of mass consumption in India,” government said in a statement. 

Allowing export of edible oils may also result in utilization of idle capacity in India's edible oils industry and is a step towards Ease of Doing Business by removing confusion arising out of prohibition on export of edible oils and a plethora of exemptions. 

The decision comes in the wake of a quantum jump in the production of oilseeds in 2016-17 compared to past two years. It is expected that the production of oilseeds in 2017-18 is going to sustain at the same levels. At present, only certain edible oils can be exported in bulk and other oils only in consumer packs upto 5 Kg with Minimum Export Price (MEP). 

New committee to review edible oil trade 
The CCEA also approved empowering a panel headed by Secretary, Department of Food and Public Distribution to review the export and import policy on all varieties of edible oils and consider measures such as quantitative restrictions, prior registration, imposition of minimum export price and changes in import duties depending on domestic production and demand, domestic and international prices and international trade volumes. 

It also discontinued the inter-ministerial committee, headed by commerce secretary, mandated to review the export of edible oils. 

Source: -Economictimes.indiatimes.com

High-volume of Loyal
and Trusted Customers!

We feel pride in offering our customers the wide range of products of the top leading brands of the world.

BCG
Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard