Export of goods worth 1 trillion 1 billion rupees
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Due to the rapid increase in the export of soybean, sunflower and palm oil and mustard oil to India, the trade deficit from Birgunj, the main point of the country, has decreased in the last financial year.
According to the data of the Birgunj Customs Office, in the previous year, goods worth 5.43 billion rupees were imported from India and third countries, and goods worth 31.14 billion rupees were exported.
Last year, goods worth 6 trillion 25 billion rupees were imported and goods worth 1 trillion 1 billion rupees were exported. Compared to the previous year, the import increased by 15.14 percent compared to the previous year, while the export increased by 227.01 percent.
Soybean and sunflower oil are the first and second in the list of the top 20 items exported to India and third countries through the Birgunj channel in terms of export value last year. Refined palm oil is 12th and mustard oil is 17th.
The data shows that the export of these four oils was higher in the last financial year compared to the previous financial year. Refined soybean oil, which is the number one, was exported in the previous year with a total of 464 thousand 138 liters worth 9 million rupees. Last year, 29 million 14 million 91 thousand liters worth 61 billion 45 million rupees were exported.
Similarly, in the previous year, 5 lakh 27 thousand 291 liters of sunflower oil worth 10 million rupees were exported. Last year, 41 million liters of sunflower oil worth 9 billion 26 million rupees were exported.
In the previous year, 939,000 liters of processed palm oil worth 150 million rupees were exported, and 39 million liters of this oil worth 74 million rupees were exported in the last year. Similarly, in the previous year, 22,900 liters of mustard oil worth 11 lakh rupees were exported, while last year, 1742,000 liters of mustard oil worth 32 million rupees were exported.
India is the main destination of all four oil exports. The raw material of this oil imported from third countries is processed and exported to India. Comparatively, because the oil produced in Nepal is cheaper than the oil produced in India, this Nepali oil has a good grip on the Indian consumer market.
Hari Prasad Gautam, President of Birgunj Industry and Commerce Association, says that the increase in the export of four types of oil will reduce the trade deficit and the government should also encourage the export of other commodities. "Nepal can become a major exporter of some more items to be consumed in the international market," he said, "if there is a government policy and effort to encourage the export of such items, our high trade deficit can also be greatly reduced."
