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SEA in pact with US, Canada oilseed trade bodies

August 25, 2003 12:33 IST

The Solvent Extractors' Association of India signed memorandum of understandings with American and Canadian organisations to expand co-operation in areas of oilseeds and oils.

SEA signed a tripartite MoU with Canadian Oilseed Processors Association and National Oilseed Processors Association and another MoU with American Soybean Association.

The MoUs would expand cooperation in areas of mutual interest and promote development and use of oilseeds and their derivatives as valuable commodities which advance the interests of respective producers, processors and users through product and market development support.

The three organisations further agreed to cooperate on resolution of policy matters when and where the interests of the organisations were amendable to joint efforts and to promote the liberalisation of global trade in oilseeds, oilseed products and edible oils separately as well as together under the auspices of the International Association of Seed Crushers.

SEA sent a 6-member delegation to meet American Soybean Association and Canadian Oilseed Processors Association under the leadership of Bipin V. Patel along with Ajay Tandon, deputy leader and past-president of SEA; A.R. Sharma, chairman of A.P Solvex; Vijay Data, managing director of Vijay Solvex; Anil R. Kapoor, chief executive of Indian Extractions and B.V. Mehta, executive director of SEA.

The delegation sought to enhance exchange of information with the US and Canadian oil producers and exporters and Indian importers, refiners and processors and also to study the soya complex in the US and canola seed complex in Canada besides price behaviour of soybean and rapeseed oils and oilseeds. The feasibility of importing oilseed for processing in India was also explored.

BS Commodities Bureau in Mumbai