Likely curb on oilmeal exports opposed

In response to a likely government move to levy duty or ban exports, SEA said that the action would also result in a rise in edible oil prices and foreign exchange earnings.

A higher realisation for oilmeal indirectly subsidises edible oil prices. A ban or an imposition of duty would lead to lesser realisation for oilmeals, thus putting pressure on edible oil prices. The solvent extraction industry processes oilseeds, oilcakes and rice bran to recover vegetable oils, which is in short supply.