Solvent Extractors Assn, Asian Palm Oil Alliance, Indonesian Palm Oil Assn ink tri-party pact

Mumbai, Sep 25 (PTI) The Solvent Extractors Association of India (SEA), the Asian Palm Oil Alliance (APOA), and the Indonesian Palm Oil Association (IPOA/GAPKI) have inked a tri-party agreement to deepen economic ties, support responsible growth, and ensure more stable palm oil supply chain across the region.

Under the Memorandum of Understanding (MoU), which was inked on Wednesday and valid for three years, IPOA will support India's Palm Oil industry with technical knowhow and trade falicitations.

"We welcome this partnership with IPOA and APOA as an important step in deepening India's engagement with Indonesia and other Asian partners. This MoU will strengthen India's access to affordable, high-quality palm oil while enabling Indian stakeholders to benefit from Indonesia's expertise in sustainable palm oil production.

"It will also create opportunities for trade and technical cooperation that bring greater stability to India's edible oil sector," SEA President Sanjeev Asthana said in a statement.

India meets over 60 per cent of its edible oil demand through imports, with Indonesia consistently serving as its largest supplier of palm oil for more than a decade.

In August, India's palm oil imports rose nearly 16 per cent to 9,90,528 tonnes -- the highest in over a year -- highlighting its role in meeting the country's edible oil needs.

"This MoU marks a milestone for palm oil-consuming countries across Asia. By working with IPOA and SEA, APOA will help ensure secure supplies, stronger regional cooperation, and wider consumer awareness. Our focus is to represent the voice of Asian consumers while advancing sustainability and inclusive growth in palm oil trade," APOA Chairman Atul Chaturvedi said. PTI SM DRR