| Date: |
07-08-2015 |
| Subject: |
Commerce Ministry allows bulk export of rice bran oil |
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The Commerce Ministry on Thursday allowed bulk exports of rice bran oil and removed quantitative restrictions on out-bound shipments of organic edible oils.
"Export of Rice Bran oil in bulk has been exempted from the prohibition on export of edible oils. Also, the quantity ceiling on export of organic edible oils has been removed," Directorate General of Foreign Trade (DGFT) said in a notification.
Last month the Cabinet Committee on Economic Affairs (CCEA) has taken the decision in this regard. Rice bran oil is considered as a premium edible oil with limited consumption in India.
Although India is a major importer of edible oils, the Centre has allowed bulk exports of rice bran oil to help small rice millers realise better price as demand of this cooking oil remains limited in the domestic market.
India imports over 10 million tonnes of vegetable oil -- largely edible -- annually, which is some 60 percent of the country's total demand. Edible oil exports have been prohibited since March 17, 2008. Certain exemptions have been allowed from time to time.
Source : moneycontrol.com
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