The reduction in taxes could bring down prices of the edible oils in India and boost consumption, effectively increasing overseas buying by the south Asian country
GASC said traders should submit bids for payment with 180-day letters of credit and at sight and that it would choose between both offers. The deadline for offers is June 22.
The economy ministry said this week it had proposed banning exports of sunflower seeds from May 15 to Sept. 30, even though volumes of seed exports have been tiny.
Ukraine this week limited sunoil exports to 5.38 million tonnes in the 2020/21 season in a bid to prevent a jump in sunoil prices on domestic market.
Ukraine is the world's largest sunoil exporter and the government had said sunoil exports in the September 2020-August 2021 season might total around 5.52 million tonnes out of output of 5.92 million tonnes this season.
Ukrainian traders' union UGA said it was concerned by the government's plan to curb exports, which could cause a big fall in the amount of area used for sunflower sowing and reduce the harvest.
Russia has imposed several export taxes for grain, sunseeds among other measures since December in its battle to tame rising food inflation amid the pandemic.
As to chicken meat and eggs, the agriculture ministry regulates (the situation) in a soft negotiation mode and through voluntary commitments with poultry producers
Russia, one of the world's largest wheat exporters, has imposed several grain export taxes and a series of other measures since December as it seeks to stabilise domestic food inflation.