SEA urge govt to lift ban on edible oil exports
Edible oil industry has urged the government to lift the ban on edible oil exports, a top industry official said here.
By PTI |
MUMBAI: Edible oil industry has urged the government to lift the ban on edible oil exports, a top industry official said here.
"The exports of edible oils constitutes very small fraction of country's total production & consumption of 130 lakh tonnes. These value added products fetches much higher prices against which double the quantity of edible oil can be imported. The ban has sent negative signals in the International markets and the niche markets developed over the years with great efforts will be lost in no time," the Solvent Extractors' Association of India, President, Ashok Sethia said in a statement here.
I request the Government to reconsider the decision and allow the exports of edible oils, Sethia said.
India traditionally exports small volume of premium oils like coconut, sesame, mustard and groundnut either in consumer packs or in bulk to cater expats population and the quantity may not be more than 10,000 tonnes per annum barring export of groundnut oil occassionally when the International market is favourable.
Last month, Government banned the exports of all edible oils falling under Chapter 15 of ITC (HS) Classification.
The Association had represented this matter for lifting the ban on exports of edible oils & castor oil and subsequently prominent members of the Association had series of meetings with Commerce Minister Kamal Nath, and had strongly pleaded to lift the ban on exports of edible oils, as the quantity exported is very small and has no impact on domestic supply & the price situation and castor oil being a non edible oil.
"The exports of edible oils constitutes very small fraction of country's total production & consumption of 130 lakh tonnes. These value added products fetches much higher prices against which double the quantity of edible oil can be imported. The ban has sent negative signals in the International markets and the niche markets developed over the years with great efforts will be lost in no time," the Solvent Extractors' Association of India, President, Ashok Sethia said in a statement here.
I request the Government to reconsider the decision and allow the exports of edible oils, Sethia said.
India traditionally exports small volume of premium oils like coconut, sesame, mustard and groundnut either in consumer packs or in bulk to cater expats population and the quantity may not be more than 10,000 tonnes per annum barring export of groundnut oil occassionally when the International market is favourable.
Last month, Government banned the exports of all edible oils falling under Chapter 15 of ITC (HS) Classification.
The Association had represented this matter for lifting the ban on exports of edible oils & castor oil and subsequently prominent members of the Association had series of meetings with Commerce Minister Kamal Nath, and had strongly pleaded to lift the ban on exports of edible oils, as the quantity exported is very small and has no impact on domestic supply & the price situation and castor oil being a non edible oil.
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