India may allow oilseed imports
INDIAS federal government is considering allowing oilseed imports to compensate for shortfalls in domestic production.
The draft measure provides for the barrier-free importation of soya bean and some high oil-bearing seeds. Some officials want to make a start by importing 1m tonnes of soybean.
But other government departments are resisting the move on the grounds that it would put the countrys domestic production at the risk of diseases.
Indias edible oils imports fell 25.66% to 1.13 million tonnes in the year to March 1998. This caused a 40% rise in the prices of edible oils since January last year. The imports are aimed at preventing a sharp increase in local prices.
- Financial Times 06/08/98 page 36 (News Digest)