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Business


Amid Trade War With US, China Drops Ban On Indian Rapeseed Oil Meal

Beijing has slapped additional tariffs on US oil meals in a full-blown trade war, looking to import from other countries


amid-trade-war-with-us-china-drops-ban-on-indian-rapeseed-oil-meal

Amid the bleeding trade war with the US, China has removed an over five-year-long ban on the import of Indian rapeseed oil meal.

China is the biggest consumer of oil meal of which rapeseed is a variant. Beijing has slapped additional tariffs on US oil meals in a full-blown trade war, looking to import from other countries.

"China has cleared the ban on Indian rapeseed meal. As long as Indian companies comply with Chinese regulations, they can export it," an Indian government official told IANS.

Beijing in 2012 had banned Indian imports, citing the presence of a particular pest in the crop. 

The official said the issue has now been resolved.

Last month, a buyer-seller meet was organised by the Indian and Chinese governments in which Indian exporters made a strong pitch to resume rapeseed exports.

New Delhi's trade engagement with Beijing seems to be increasing as both sides have pledged to put ties back on track after last year's Doklam military stand-off.

In an ice-breaking meeting with Chinese President Xi Jinping at Wuhan in April, Prime Minister Narendra Modi had asked that Indian commodities be given more access to the Chinese market.

 

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