poojap
Apr 1 st, 2018

Export NewsNo Comments

On 28th March 2018, the Cabinet Committee on Economic Affairs (CCEA) announced that it is permissible to bulk export all oils except mustard.

The CCEA told that Mustard oil can be exported only in consumer packs of not more than 5 kgs and have to be sold with a minimum export price of $900/tonne.

The government told in a statement, “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.”

This export of edible oils can help in using the idle capacity of the oil industry of India. The permission to export also works towards easing up the business process as it removes confusions related to export prohibition and many exemptions.

The production of oilseeds has increased in drastically in 2016-17 compared to last two years. The anticipation of oilseed production in 2017-18 is also in the levels of previous year.

Before this announcement was made, only some edible oils could be exported in bulk quantities. Other oils could only be sold in consumer packs of up to 5 Kg on a Minimum Export Price (MEP).

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