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SEA flags edible oil volatility risks to food ministry
The Hindu BusinessLine··5d ago
The Solvent Extractors' Association of India told Food Secretary Sanjeev Chopra that El Nino risks, sunflower oil uncertainty from the Russia-Ukraine conflict, and Indonesia's B50 biodiesel programme could unsettle global vegetable oil balances. SEA president Sanjeev Asthana also raised DORB export policy, China rapeseed registration, and Nepal-SAFTA imports with Consumer Affairs Secretary Nidhi Khare on Monday.
Prism
What It Means For You
- Policy uncertainty on de-oiled rice bran has previously forced plants to cut or halt work.
- SEA recommended a 5 percent GST framework for DORB to support domestic oil extraction.
- Only five Indian rapeseed exporters are registered with Chinese customs, SEA said.
What's Happening
- Asthana summarised the New Delhi meetings in his monthly letter to members on Monday.
- The group said soybean and soybean oil may gain strategic weight if balances shift.
- On Nepal imports, SEA sought quotas, a minimum import price and tighter origin checks.
What SEA Asked For
- SEA's concern on Nepal-SAFTA is the zero-duty differential, especially in eastern UP and Bihar.
- The Commerce Ministry is expected to take the China registration bottleneck to Chinese authorities.
- Indonesia's B50 biodiesel plan is one of the supply-side risks SEA listed.
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