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KATHMANDU: Export of refined oil of soybean, palm and sunflower from Birgunj customs has increased of late.
According to the Birgunj Customs Office, the export of these three types of oil has increased up to mid-January of the current fiscal year as compared to the same period last year. In the first six months of the current fiscal year, these oils worth over Rs 26 billion have been exported through this border alone.
Nepal imports crude soybean, palm and sunflower oil and exports after refining.
Due to the high exports of these three oils, soybean and palm oil are at number one and number two and sunflower oil at number three respectively in the list of most exported goods through Birgunj customs till mid-January this fiscal year.
As of mid-January of the current fiscal year, 92 million kg of soybean oil worth Rs. 22.10 billion has been exported from this port. In comparison, 78.3 million kg of soybean oil worth Rs. 11.55 billion was exported in the corresponding period of the previous year. Its exports has increased by 11 percent.
Similarly, 104.7 million kg of palm oil worth Rs 2.16 billion has been exported through this checkpoint till mid-January this fiscal year. During the same period last year, the export of this oil was zero. By mid-January of the current fiscal year, 89.40 million kg of refined sunflower oil worth Rs. 1.78 billion had been exported through this customs. In the corresponding period of the previous year, 1.553 million kg equivalent to Rs. 217.7 million was exported.
According to the Birgunj customs office, Nepali industrialists have been importing crude oil of soybean, palm and sunflower from different countries and processing it. There is no charge for importing it as it is imported for export purpose under bank guarantee. Apart from India, small quantities of soybean oil have been exported to European countries, including Germany.