The Solvent Extractors’ Association of India has signed a memorandum-of-understanding with the Brazilian Association of Vegetable Oil Industries to foster trade opportunities between Indian importers and exporters from Brazil, according to an SEA release. The memorandum was signed last week at the embassy of Brazil in New Delhi.
Both countries will exchange information on production periodically and cooperate on the supply side to enhance value addition in oilseeds and its derivatives. India annually imports 16 mln tn of vegetable oil, with a major share of soybean oil of 3.5-4.0 mln tn from Latin America, the agency said in a letter. India imports soybean oil majorly from Brazil, a Latin American country. Brazil exported 1.2 mln tn of soybean oil to India during Jan-Sep. Last year, soybean exports from Brazil were at 1.4 mln tn.
