During the first quarter of the current fiscal year, 84 million liters of soybean oil worth Rs 17.32 billion was exported to India through this border crossing.
What you should know
The export of soybean oil, sunflower oil, and refined palm oil from the Birgunj border crossing has increased sharply in the first quarter of the current fiscal year. This is an encouraging increase compared to the same period last fiscal year.
In the first quarter of the current fiscal year, 84 million liters of soybean oil worth 17.32 billion rupees have been exported to India through this border. In the same period of the previous fiscal year, 8.764 million liters of soybean oil worth 2.02 billion rupees had been exported through this border.
Similarly, in the first quarter of the current fiscal year, 32.4 million liters of sunflower oil worth 2.09 billion rupees had been exported to India through this border. In the same period of the previous fiscal year, 64.89 million liters of sunflower oil worth 1.11 billion rupees had been exported through this border.
In the first quarter of the current fiscal year, 85.14 million liters of refined palm oil worth 1.54 billion rupees had been exported to India through this border. In the same period of the previous fiscal year, 223 thousand liters of refined palm oil worth 40 million rupees had been exported to India.
Nepali oil industries import soybean, sunflower and palm from countries like Brazil, Argentina, Ukraine, etc., and produce oil and export it to India. Birgunj Customs Office Officer Amit Tiwari says that this year, all three oils are being exported enthusiastically through the Birgunj border. He said that the export of soybean oil is increasing. The export of these oils to India from the Birgunj border has increased after the price of refined Nepali soybean, sunflower and palm oil has become cheaper compared to Indian oil.
He said that the main reason for the encouraging increase in the export of these oils to India this year is the sharp competition between Nepali oil and Indian oil. He said that Nepali oil industries are exporting oil to India at a rapid pace, earning a profit of just Rs 5 per liter.
