Boom in vegetable oil exports from Nepal raises concerns about trade manipulation

Nepal’s exports grew by 72.71% in the 10 months of the current fiscal year to mid-May, reaching USD 1.55 billion (NPR 217.91 billion), largely due to re-exports of soybean, sunflower and palm oils, which the country imports because its own production does not even cover domestic demand. Excluding oils, exports amounted to USD 0.91 billion, indicating their significant impact. Exports of soybean oil increased 90-fold to USD 0.56 billion (374,086 tonnes), while imports of crude soybean oil amounted to USD 0.58 billion (539,549 tonnes) from Argentina, Brazil, Ukraine and other countries. Sunflower oil exports increased 62-fold to USD 71.19 million (457,760 tonnes), while crude sunflower oil imports were USD 0.18 billion (166,527 tonnes), mainly from Argentina and Ukraine. Palm oil exports were USD 8.26 million (6,685 tonnes), while crude palm oil imports were USD 32.75 million (32,318 tonnes) from Indonesia and Thailand. In addition to oils, Nepal exports carpets, cardamom, juices, ...