| Date: |
05-10-2010 |
| Subject: |
India Extends Edible Oil Export Ban to One More Year |
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India has decided to continue with the ban on edible oil exports for another year in order to reinforce the domestic supply, according to an official statement.
However, edible oil in branded packets up to 5 kg is being exempted from the export ban.
The country had first banned the edible oil export in 2008 when prices peaked up due to unavailability and resumed the ban citing the same reason. The ban will remain in force till September 30, 2011, the Directorate General of Foreign Trade said in a statement.
Meanwhile, the country's vegetable oil imports during the current year are expected to be around 9 million tonnes.
Source : ibtimes.com
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