While rising prices for soybean and palm oil have boosted export earnings, declining exports of sunflower oil have become a matter of concern.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Exports of soybean and refined palm oil to India from Birgunj border have increased in the 8 months of the current fiscal year, while exports of sunflower oil have decreased.
The highest export is seen in refined soybean oil. During the 8 months from Shrawan to Falgun of the last fiscal year, 134.7 million liters of refined soybean oil worth 28.2 billion rupees were exported from this border. During the same period of the current fiscal year, 173.1 million liters of this oil worth 35.58 billion rupees were exported. In the current fiscal year, the export of this oil has increased by 38.4 million liters.
Exports of refined palm oil have also been positive. During the same period of the last fiscal year, 2158 thousand liters of palm oil worth 410 million rupees were exported from this border.
During the same period of the current fiscal year, 181 million liters of palm oil worth 3.77 billion rupees were exported. In the current fiscal year, the export of this oil has increased by 15.9 million liters. On the other hand, the export of sunflower oil has declined. Last year, 27 million liters of this oil worth 5.67 billion rupees were exported to India, while this year, 76.9 million liters of this oil worth 4.58 billion rupees have been exported.
Although the export of this oil has increased in quantity, the price has declined. It is estimated that the impact of competitive products or a decrease in demand in the market may be the reason.
Nepali oil industries have been importing soybeans, sunflowers and palms from countries such as Brazil, Argentina, Ukraine and others, producing oil and exporting it to India. The export of these oils to India through the Birgunj border has increased as Nepali soybeans, sunflowers and palms are cheaper than Indian ones.
While the increase in the prices of soybean and palm oil has increased export earnings, the declining exports of sunflower oil have become a matter of concern. Hari Gautam, President of the Birgunj Chamber of Commerce and Industry, says that fluctuations in the international market, raw material prices and policy arrangements will directly affect the export trend.
