India has decided to resume importing palm oil from Nepal. The subcontinent suspended imports from Nepal 13 months ago.
As per a report in The Economic Times, the Indian government axed this commodity from the restricted imports list and made it possible to import until the year-end.
Nepal’s refined palm oil is one of the biggest exports of the Himalayan country. The country imports crude palm oil from Malaysia and Indonesia and then exports the refined oil to other countries.
India banned palm oil imports from Nepal In January 2020, but that ban lasted for a month before the subcontinent reinstated the ban a few months ago.
Exporters in Biratnagar rejoiced upon hearing this news. There are seven palm oil refining plants in this Biratnagar area, whereas there are 20 palm oil exporters in Nepal.
However, this Indian decision will take a month to implement, as per the industrialist Abinash Bohora.
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