Solvent Extractors Association of India signed MoU with Brazilian Association of Vegetable Oil Industries of Brazil for supply of soya oil to India.
MOUs and Agreement
Cooking oil industry body, Solvent Extractors Association of India (SEA) and Brazilian Association of Vegetable Oil Industries (ABIOVE) have signed a Memorandum of Understanding (MoU) for soybean oil imports. India is the largest exporter of edible oils in the world. is an importer and imports about 15-16 million tonnes of various edible oils, including 3.5 to 4.0 million tonnes of soybean oil, mainly from Latin America. Both the Unions supply soybean, soymeal, soybean oil, as well as other oilseeds and their derivatives, Agreed to cooperate in utilization and trade. “The objective of the MoU is to create a common platform to facilitate joint interaction of both the institutions under the government sectors of both the countries and mutual interests towards economic integration between the two countries in the oilseeds sectors. To promote public-private partnership. Reduction of bilateral and multilateral trade barriers on oilseeds, oilseed products and edible oils,” SEA said.
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