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Edible Oil Summit (Markets, Trade & Innovations)

02 Aug, 2017 - Kuala Lumpur

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Modi Government Lifts Ban on India’s Bulk Export of Major Edible Oils

Posted on : 26 May, 2017

 

In a recent move to promote India’s edible oil industry, the central government of India lifted a ban on bulk exports of certain edible oils. Before this, edible oil exports were only allowed in branded consumer packs of up to 5 kg.

 

According to Directorate General of Foreign Trade, India will now allow export of groundnut oil, sesame oil, soyabean oil and maize oil in bulk - irrespective of any pack size.

 

India is expected to have a record oilseed output of 33.60 mt in 2016-17, up from 25.30 mt in the previous year. The lifting of ban is seen to boost export of edible oil particularly groundnut oils to China and European countries.

 

Indian exporters can also leverage on its non-GMO soyabean and sell to international market that are looking for non-GMO soyabean oil.

 

Interestingly, India is among the leading consumers of edible oil too. India’s domestic edible oil demand is met through imports – that account for about 60-70%. For instance, in the period 2015-16 oil year (November to October), the South Asian country imported about 14.5 million tonnes of vegetable oils (edible and non-edible).

 

More discussions on India and regional edible oil markets will be shared at CMT’s Edible Oil Summit (Markets, Trade & Innovations) on 02 Aug, 2017 - Kuala Lumpur.

 

Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.

 

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