Govt allows export of edible oils in bulk 9 years after ban

New Delhi, Mar 28 (KNN) The export of certain edible oils including groundnut oil and sesame oil has been exempted from the prohibition on export of edible oil irrespective of any pack size.

The Directorate General of Foreign Trade (DGFT) in a notification said, “Export of Groundnut oil, Sesame oil, Soyabean oil and Maize (Corn) oil in bulk, irrespective of any pack size, has been exempted from the prohibition on export of edible oil.”

Export of edible oils was earlier prohibited since 2008. While export of edible oils in branded consumer packs of upto 5 kgs was till date permitted with a Minimum Export Price of USD 900 per MT.

India currently meets around 60 per cent of its edible oil demand of 24 million tonnes (mt) a  year through import. (KNN Bureau)