22-May-2013
NEW DELHI: India is on course to resume oilmeal exports to China, after Beijing agreed in principle to lift a ban that it imposed last year citing traces of a hazardous chemical, an industry body chief said on Wednesday.
"China has agreed in principle to re-open the Chinese market for Indian oilmeals," said Vijay Data, president of Solvent Extractors' Association, in a statement issued to its members.
The move to re-open the Chinese market was proposed during the visit of Chinese Premier Li Kegiang earlier this week to New Delhi. This will help stem a fall in rapeseed meal exports from India, Asia's top oilmeal exporter.
India's trade ministry is drawing up the finer details to be followed for exports to China, the country's No. 2 consumer for rapeseed meal prior to the ban, Data said.
China banned Indian oilmeal imports in January last year after finding traces of malachite green in them.
He said he hoped for the exports to resume "very soon". India's oilmeal exports in 2012/13 fell 14.3 percent from a year earlier to 4.8 million tonnes, due to the ban and a drop in demand from traditional buyer Japan.
Source:-economictimes.indiatimes.com
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