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India removes limits on exports of edible oils-govt

Source : REUTERS
Last Updated: Thu, Jan 31, 2013 09:10 hrs

NEW DELHI, Jan 31 (Reuters) - India has allowed overseas sale of edible oils without any volume restrictions, Commerce Minister Anand Sharma said on Thursday, a move taken to cater to the small expatriate appetite for cooking oils.

The minimum export price of these will be $1,500 per tonne, the minister added.

The latest decision will pave the way for exports of cooking oils such as groundnut and sesame, but other oils, including coconut and sunflower, are currently selling below that level.

India, the world's top importer of vegetable oils, generally prohibits exports of edible oils, but last year had allowed overseas sales of cooking oils in small packs of up to 5 kg with a limit of 20,000 tonnes.

The sale of cooking oils in branded small packs has been allowed until Sept. 30, 2013. (Reporting by Nigam Prusty; Editing by Jo Winterbottom)




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