| Date: |
20-07-2010 |
| Subject: |
India can double oilmeal exports to China to Rs 1,200 cr |
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NEW DELHI: India has the potential to double oilmeals exports to China to Rs 1,200 crore, an industry body said on Monday.
The Solvent Extraction Association of India (SEA) has been invited by industry chamber Ficci to join a business delegation to China next month.
"India exports on an average about 4-5 lakh tonnes valued at over Rs 600 crore of various oilmeals, such as soybean meal, rapeseed meal, groundnut meal, etc, to China and there is the potential to double the same," SEA said in a statement.
India's oilmeal export declined by 41 per cent in the last fiscal to Rs 4,136.88 crore in the financial year ended March 31, 2010, as against Rs 7,238 crore in the corresponding period a year ago.
SEA will be participating in the 'India Business Forum' meet, organised by the industry chamber, scheduled to be held next month in Shanghai, China.
It has also demanded that the government increase the import duty on edible oils to 20 per cent for crude and 27.5 per cent for refined edible oil.
Source : economictimes.indiatimes.com
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