India extends edible oil exports by four months
NEW DELHI (Reuters) - India has extended the deadline for edible oil exports by four months to September 30, trade body Solvent Extractors' Association of India said in a statement on Saturday.
India, a net edible oil importer, exports small quantities of groundnut, sunflower and rapeseed oils to meet expatriate demand.
In February, the federal trade ministry allowed exports of branded edible oils in small packs of up to 5 kg, but capped total exports until May 31 to 10,000 tonnes.
In the current marketing year from November, India had exported 5,036 tonnes of edible oils up to May 14.
A trade analyst said the extended deadline would reduce demurrage charges that would otherwise occur due to delay in the customs clearance.
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