India urges China to remove import duty on oilseeds
The Dollar Business Bureau | @TheDollarBiz The Indian government has urged China to reduce duty on oilseed imports from India under provisions of the Asia-Pacific Trade Agreement (APTA) to help boost exports from India and reduce its trade deficit with China. Despite fluctuations due to weather conditions (over 60 % of production is dependent on rains), India’s oilseed production and exports have increased in the last few years. It is estimated that oilseed production reached a record high of around 328.77 lakh tonnes in FY2013-14. According to the Indian Oilseeds and Produce Export Promotion Council (IOPEPC), total oilseed exports by India surged to around 10 lakh tonnes worth around Rs.7,992 crore in FY2013-14, which is up about 66% and 160% in ...
