Soybean oil has shot up to the top of the list of Nepal's largest exports, knocking palm oil from the number-one spot, as traders changed tack to keep exploiting trade preferential loopholes after the Indian government squeezed palm oil imports.  Nepal produces very little soybean oil of its own, and the heady growth is achieved by importing raw oil and re-exporting it after processing.

According to the Department of Customs, soybean oil shipments increased four and a half times year-on-year to Rs13.5 billion from Rs3 billion in the five-month period from mid-July to mid-December in the current fiscal year. In the whole of the last fiscal year 2019-20, Nepal's soybean oil exports amounted to Rs12.69 billion, the statistics show.

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