1. Commodity News

SEA Signs Deal with Argentina to Increase Vegetable Oil Trade

Abha Toppo
Abha Toppo

The Solvent Extractors Association of India (SEA) on 19th February 2019 signed an accord with the Chamber of Vegetable Oil Processors (CIARA) of Argentina as well as the Association of Grain Exporters (CEC) for promotion of vegetable oil output, trade and consumption.

The Memorandum of Understanding (MoU) that was inked between the industries bodies will ease engagement and boost the trade in vegetable oil and also reduce trade obstacles.

In addition, the two sides explored the prospects for developing close collaboration for exporting sunflower oil and soya oil into India.

There will be mutual agreements with governments, industry bodies and other important stakeholders to lessen trade barriers in vegetable oils and allied products between the two nations.

The deal that was signed in the presence of President of Argentina Mauricio Macri and Minister of Agriculture Luis Miguel Etchevehere demands exchange of edible oil and fat-related trade, technical and administrative details or data that are useful to both the nations along with members of the association.

vegetable oil

About SEA

SEA or the Solvent Extractors’ Association of India was established in the year 1963 to help and promote the growth as well as development of Indian Solvent Extraction Industry. Presently, the Association has 875 members that include around 350 operational solvent extraction plants with combined oilseed/oilcake processing yearly capacity of about 30 million tonnes.

The association is an all India entity to solvent extractions industry and a leading vegetable oil alliance in the country with huge representative membership comprising processors of Oilcakes, Rice bran, Minor Oilseeds and Soybean.

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