China to resume Indian rapeseed meal imports after six years
After opening doors to Indian non-Basmati rice, China has removed the ban on exports of rapeseed meal from India, a move which will aid reduce the burgeoning trade deficit between the two countries. Indian rapeseed and soybean meal were banned in China in 2012 due to detection of contamination. Since then, India has been pursuing China to do away with the ban.
“China has now removed the ban as there is growing acceptance to use Indian rapeseed meal as sources of protein used in animal feed,” said an official in the know of the details.
Indian exporters see a major opportunity arising out of China’s efforts to reduce dependence on American soybean due to the ongoing trade war. “Export Inspection Council and NAFED are spearheading the marketing efforts in China and expected to commercially resume the export of rapeseed meal very shortly,” the official said.
New Delhi had a couple of months back pitched for market access for a variety of its goods to China in a move to bridge the widening trade deficit. In 2017-18, India’s trade gap with China has swelled to $64 billion.
Source :- Dailyshippingtimes.com