Remove ban on groundnut oil export: SEA

Edible oil industry body Solvent Extractors' Association of India (SEA) has urged the government to lift ban on export of edible oils to support exporters, industry and farmers.

"We request you to consider to lift the ban on export of edible oils and seize this opportunity to push the export of edible oil in the international market," SEA President Ashok Sethia said. As part of measures to contain inflation, the government had banned export of edible oils on 17 March, 2008.

In a letter addressed to Food and Agriculture Minister Sharad Pawar and Commerce Minister Kamal Nath, the SEA President said there is a good demand for groundnut oil in the international market, which would continue till February, 2009, as supply from other countries like Argentina and Senegal is not much.

Since the government is concerned about decline in export, Sethia said the country can easily export 50,000 tonnes of groundnut and other oils worth Rs 400 crore in next three months, if permitted immediately. He said Indian groundnut oil is a preferred oil due to its aroma and can fetch $1,600-$1,700 a tonne (FOB).