ANNOUNCED AS TEMPORARYNo
On 18 May 2016, the Indian Ministry of Commerce and Industry through Notification No. 8/2015-2020 amended the applicability of a Minimum Export Price on edible oil exports.
In March 2008, the Ministry had banned the exports of all edible oil but added several exemptions later that include castor oil, coconut oil, deemed oil exports for producing non-edible export goods, exports to SEZs for producing value-added goods, edible oils of minor forest produce, organic edible oil, rice bran oil and oil exported in retail packs of up to 5 kgs. Further, in February 2013, the Ministry imposed a Minimum Export Price on exports of edible oil in retail packs of up to 5 kgs.
However, the Ministry made no exemption from the applicability of the MEP on exports of edible oil in retail packs for oils that were exempt from any export restrictions such as castor oil, coconut oil, etc. above. This has been clarified and amended and exports of all such edible oil which are exempted from the export ban, regardless of the pack size, will henceforth be relaxed from the applicability of the MEP.
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