Export market for RBD Palm Oil in Nepal (12월, 2022)

Nepal has seen a significant decrease in exports of palm and soybean oil in the initial months of the fiscal year, with exports of palm oil falling by 47.3% and soybean oil by 79.8%, according to the Nepal Rastra Bank. This decline is due to a drop in international demand for edible oil. Nepal had been benefiting from exporting these oils to India, taking advantage of the South Asian Free Trade Area (SAFTA) agreement, which offers zero tariffs on goods exported from underdeveloped countries. The finish products were then sold in Indian markets after being imported as crude oil and processed in Nepal. However, concerns have been raised about the potential impact on Nepali traders' business following an increase in duty on these edible oils imported from Nepal by India.