The import of crude soybean oil into Nepal through Birgunj Customs—the country’s key trade gateway—has surged by a staggering 613.41 percent in the first 11 months of the current fiscal year, compared to the same period last year, the state-run news agency RSS reported.

According to Deepak Lamichhane, Chief Customs Administrator at the Birgunj Customs Office, the country imported crude soybean oil worth Rs 52.58 billion in this period, a sharp rise from Rs 7.37 billion recorded during the same period of the previous fiscal year.

The Birgunj customs point, which handles the majority of Nepal’s foreign trade, also witnessed a massive rise in refined soybean oil exports. A total of 2.58 million liters of refined soybean oil worth Rs 55.3 billion was exported through the checkpoint in the 11 months of the current fiscal year, RSS added. In contrast, only 464,138 liters of soybean oil valued at Rs 88.3 million had been exported in the same period last year.

Similarly, imports of crude sunflower oil rose modestly to Rs 9.75 billion, up from Rs 8.4 billion in the previous fiscal year. However, exports of refined sunflower oil showed a remarkable increase. A total of 38.9 million liters of sunflower oil worth Rs 8.4 billion was exported through Birgunj in the review period—up from just 527,291 liters in the corresponding period last year.

Officials attribute the sharp rise in exports of refined oil products to the import of crude oil for processing and re-export, a trade trend that has intensified in recent years.

Nepali exporters enjoy zero percent customs duty under the South Asian Free Trade Area (SAFTA) for exporting refined oil to India.