Chief Whip of NC Bal Krishna Khand warns of impending crisis: India stops importing Palm Oil

KATHMANDU: Chief Whip of the main opposition Nepali Congress Party Bal Krishna Khand has issued a press release dated 10th January regarding the impending crisis and a setback to the exporters of palm oil in Nepal.

“We are paying serious attention to the recent ban on palm oil by India which will lead to the waste of stock and investment including loss of jobs created by the industry” it stated.

“Palm Oil is one of Nepal’s most important exports. It will affect the Nepalese economy. The Government of Nepal (GoN) will have to take diplomatic steps to create an environment for exports to other countries”.

Palm oil is number 23 on the list of most valuable crop by-product value.

Nepal has exported palm oil worth 10 billion and 300 million Nepalese Rupees (NRs) to India.