 "Oilmeal exporters pin hopes on Chinese market")
Chinese Premier Li Keqiang's recent visit to India has come as a major relief for the country's oilmeal exporters. While overall oilmeal exports from India have shown a declining trend, the Chinese market seems to be opening for Indian oilmeal after a restriction of over one year.
"During the visit of Premier Li, China agreed in principle to reopen its market for Indian oilmeal. This is good news," said Vijay Data, president, Solvent Extractors' Association of India (SEA).
China had banned imports of oilmeal from India in January 2012, citing traces of hazardous dye and malachite green in oilmeal.
"There were talks between trade bodies of China and India and a delegation (from China) had expressed its willingness to visit Indian oilmeal manufacturing facilities. Things seem to be turning positive once again," said B V Mehta, executive director, SEA.
Before the ban, China imported Rs 600-700 crore worth of oilmeal from India. In 2010-11, India exported around 536,000 tonnes of oilmeal to China, which dropped to 354,000 tonnes in 2011-12, as imports were banned in January 2012.
India's oilmeal exports fell 14.3 per cent in 2012-13 against the previous year to 4.8 million tonnes (mt). In 2011-12, India had exported 5.6 mt of oilmeal, mostly to China and conventional buyer Japan.
"Chinese authorities have softened their stance. Some modalities are being worked out and in the next couple of months, exports to China should start," he added.
In April, oilmeal exports to Iran fell by close to 31 per cent to 67,500 tonnes against 97,900 tonnes in the corresponding month last year.
Prices still continue to remain a major concern to stay competitive in the international market. Countries including South Korea, Vietnam, Japan, Indonesia and Iran have significantly cut their oilmeal import due to price factor.
SEA push for RBO
SEA has joined the international edible oil community for setting up a global organisation to promote rice bran oil (RBO). The move aims at creating awareness among edible oil consumers about the health-related advantages of RBO.
RBO matches the prescribed levels suggested by the World Health Organization (WHO), SEA noted in its report on RBO.
"There was a common consensus for setting up an International Council on Rice Bran Oil with an objective to promote and encourage international technical cooperation, expansion of international trade, promoting virtues of RBO and its consumption across the world. An adhoc committee was formed to initiate the process for setting up an International Council on Rice Bran Oil at the earliest," Vijay Data, president of SEA said in a statement.
"During the visit of Premier Li, China agreed in principle to reopen its market for Indian oilmeal. This is good news," said Vijay Data, president, Solvent Extractors' Association of India (SEA).
China had banned imports of oilmeal from India in January 2012, citing traces of hazardous dye and malachite green in oilmeal.
"There were talks between trade bodies of China and India and a delegation (from China) had expressed its willingness to visit Indian oilmeal manufacturing facilities. Things seem to be turning positive once again," said B V Mehta, executive director, SEA.
Before the ban, China imported Rs 600-700 crore worth of oilmeal from India. In 2010-11, India exported around 536,000 tonnes of oilmeal to China, which dropped to 354,000 tonnes in 2011-12, as imports were banned in January 2012.
India's oilmeal exports fell 14.3 per cent in 2012-13 against the previous year to 4.8 million tonnes (mt). In 2011-12, India had exported 5.6 mt of oilmeal, mostly to China and conventional buyer Japan.
"Chinese authorities have softened their stance. Some modalities are being worked out and in the next couple of months, exports to China should start," he added.
In April, oilmeal exports to Iran fell by close to 31 per cent to 67,500 tonnes against 97,900 tonnes in the corresponding month last year.
Prices still continue to remain a major concern to stay competitive in the international market. Countries including South Korea, Vietnam, Japan, Indonesia and Iran have significantly cut their oilmeal import due to price factor.
SEA push for RBO
SEA has joined the international edible oil community for setting up a global organisation to promote rice bran oil (RBO). The move aims at creating awareness among edible oil consumers about the health-related advantages of RBO.
RBO matches the prescribed levels suggested by the World Health Organization (WHO), SEA noted in its report on RBO.
"There was a common consensus for setting up an International Council on Rice Bran Oil with an objective to promote and encourage international technical cooperation, expansion of international trade, promoting virtues of RBO and its consumption across the world. An adhoc committee was formed to initiate the process for setting up an International Council on Rice Bran Oil at the earliest," Vijay Data, president of SEA said in a statement.