•Ram Vilas Paswan, Hon’ble Minister of Food, Public Distribution & Consumer Affairs, Govt. of India, Param Pujya Swami Baba Ramdev, and industry stalwarts marked their presence on the occasion.
Mumbai, 18 September, 2017 (GPN) : Globoil India 2017 organized by Tefla’s, under the patronage of The Solvent Extractors’ Association of India is an International forum for Research, Analysis, and Dissemination of Knowledge on Vegetable Oil & Related Industries. Established in 1997, this Premier International Conference and Exhibition on Vegetable Oil, Feed & Feed Ingredients, Oilseeds, Related Industries & Services is now in its 21st Year.
Globoil India – 21st Anniversary Event was being held in Mumbai during 13th, 14th & 15th – September 2017 at Renaissance Mumbai Convention Centre Hotel, Powai. The Solvent Extractor’s Association of India – the apex trade body of the Indian Edible Oil Industry is the Chief Sponsor for this event.
This international conference was supported by 30 National & International Organizations. Also, the who’s who from leading industry houses connected with the edible oil industry & Agri – Commodity Trade is present in this forum. Every year a large no. of Companies from all over the world including Indonesia, Malaysia, Singapore, China, Middle East & Europe participate in Globoil. Over the years this forum has been successful in forging a close relationship with various constituents of the Indian & International Edible Oil trade. This forum is patronized by Ministry of Agriculture, Ministry of Food & Consumer Affairs, Tata, Reliance Industries, Godrej Industries, Hindustan Lever Ltd, Marico Group, Adani Group, Ruchi Soya, Cargill, Glencore, Bunge, Noble, Sime Darby, Musim Mas, Permata Hijau, Felda, Willmar, ADM, ITC Ltd, Allanasons Ltd., Alghurair, Liberty Group & Agrotech Foods & the National Commodity Exchanges. This international conference is also supported by 30 National & International organizations.
Ram Vilas Paswan, Hon’ble Minister of Food, Public Distribution & Consumer Affairs, Govt. of India and Param Pujya Swami Baba Ramdev ji graced their presence at the event.
Ram Vilas Paswan Minister for Consumer Affairs, Food and Public Distribution acknowledge the industry and its efforts to keep up in the market. During his interaction he spoke on the Indian edible market and how brands like Patanjali and others are competing well with the international brands in attracting the Indian consumers. He also spoke on the adulteration of oil and urged the industry to help control it and agreed with Ramdev on the pricing issues of Edible Oil.
Ramdev said, “Patanjali Ayurved Ltd will launch products in the dairy and apparel business this calendar year. With this, we will be in 11 categories. The total market size (of these two categories) will be Rs20 lakh crore” said on the sidelines of Globoil India 2017, an edible oil conclave.
“I have the trust of over 100 crore people of India, and I am converting this trust, faith, loyalty into a brand with no personal wealth,” said Ramdev.
Dignitaries present at the event to drive new thinking towards excellence are Atul Chaturvedi, President – SEA & CEO – Agri-Business, Adani Group, Dr. James Fry – Chairman, LMC International, London , Thomas Mielke, Editor-in-Chief, Oil World, Hamburg, Germany , Dorab Mistry, Director – Godrej International Ltd, London, Mohd Haris Mohd Arshad, Head, Global Trading & Marketing/Downstream, Sime Darby Plantation and many others.
Atul Chaturvedi, President, Adani Wilmar (the producer of Fortune brand edible oil), and President, Solvent Extractors Association of India, said most of the farmers did not reap the benefits of their harvest last year due to low prices. The government decision to hike import duty will bring down the inventory from an earlier estimate of 2-million tonnes to 1.5-million tonnes by encouraging processors to use seeds produced domestically for crushing.
However, he said the inventory level will still be the highest-ever and come in hand with an expectation of output falling next oil year. The area under soya bean cultivation has fallen by 1-million hectares as farmers switched to other remunerative crops.
The Ministry of Commerce raised import duty on CPO to 15 per cent from 7.5 per cent, and that of refined oil was raised to 25 per cent from 15 per cent.
Experts expect soya bean output in India to decline to 8.5-million tonnes in the next oil year due to sharp fall in acreage. Data compiled by the Ministry of Agriculture showed a decline in acreage of 200,000-lakh hectares, around 15 per cent from the previous year.
Speaking on the sidelines of the Globoil India 2017, a three-day annual event, Chaturvedi said the country would end up importing 15.2-million tonnes of edible oil this oil year against 14.6-million tonnes shipped in the previous year.
James Fry, Chairman, LMC International, a London-based agriculture commodities trading firm, said crude palm oil prices will fall to 2,400 ringgit a tonne by the current year-end due to a sharp rise in supply from Malaysia and Indonesia – the world’s largest producers and exporters to India.
The fall in CPO is expected to curb price rise in other edible oils, including refined oil, sunflower oil, and soyabean oil. The demand for CPO from bio-diesel producers is expected to be limited due to lower crude oil prices.
Mr. Kailash Singh, MD, Tefla’s & Organiser Globoil India expressed his happiness stating “The journey has turned out to be wonderful; it feels as if it was yesterday that we have embarked upon this journey. Globoil today enjoys the repute of a distinguished, unrivaled platform in the global edible oil trade. At Globoil, we commit to consistently improve and innovate rather accelerate, to keep pace with varying and dynamic needs of business in the world that is evolving much faster today.”ENDS