India bans edible oil exports in branded consumer packs

NEW DELHI, Aug 1 (Reuters) - India has banned exports of

edible oil in branded consumer packs -- popular with

ex-patriates -- in a largely symbolic move to rein in cooking

oil prices in the domestic market, given quantities are very

small.

Such exports had previously been permitted until Sep. 30,

2012, in branded packs of up to 5 kilogrammes, subject to a

limit of 10,000 tonnes.

"Export of edible oils in branded consumer packs has been

prohibited," a commerce ministry statement said.

For the full statement, please click on: http://164.100.9.245/exim/2000/NOT/NOT12/not0912.htm

"It doesn't make sense to ban such a meagre quantity at a

time when the country imports about 9 million tonnes in a year,"

said B.V. Mehta, executive director of the Mumbai-based trade

body Solvent Extractors' Association of India.

India, the world's top edible oil importer, exports small

quantities of groundnut, sunflower and rapeseed oils to cater to

expatriate demand.

(Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)

Source: http://news.yahoo.com/india-bans-edible-oil-exports-branded-consumer-packs-143352961--business.html

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