India extends ban on vegoil exports: government


India has extended a ban on exports of vegetable oils by a year to September 30, 2012, a government statement said on Wednesday, continuing its cautious approach in farm trade to ensure local supplies at moderate prices.

India, the world’s biggest cooking oil importer, used to export tiny quantities of coconut and groundnut oils before the ban was imposed in early 2008.

The government would not restrict exports of edible oils in branded consumer packs of unto 5 kilograms, with a cap of 10,000 tonnes, until October 31, 2012, the statement India allows small quantities of edible oil exports to meet expatriate demand.

For the statement, please click on:

here

Author: Ratnajyoti Dutta
Editing: Malini Menon
Source: REUTERS
Original: http://goo.gl/DmqpD


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