23rd edition of Globoil India conference held at Mumbai

Patanjali to invest more than 5,000 crore in Ruchi Soya

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Baba Ramdev was also present at the occasion during the evening award ceremony

The international conference on vegetable oil, feed & feed ingredients, oilseeds & oleo chemicals organized by Tefla’s under the patronage of The Solvent Extractors’ Association of India was scheduled from 25 to 27 September 2019 at Renaissance Mumbai Convention Centre Hotel, Powai, Mumbai. This was the 23rd year of the event. Globoil India is one of the world’s largest trade events in agri-space specifically focusing on edible oil and related industries.

According to the organizers, this year, apart from India, the event witnessed huge participation, business and ministerial delegations from Malaysia, Indonesia, Ukraine, Argentina, USA, UK, Middle-East and Germany. More than 1500 delegates and around 100 exhibitors participated in this event.
Guests of honor for the event were Ibu Ir Musdhalifah, deputy minister – Food & Agriculture, Coordinating Ministry for Economic Affairs, Govt of Indonesia and Teresa Kok, hon’ble minister of Primary Industries, Ministry of Primary Industries (MPI), Malaysia. Baba Ramdev was also present at the occasion during the evening award ceremony.

In the current edition of Globoil India, discussion on various topics related to edible oil took place that leads to the generation of ideas and insights which can help to script the India edible oil story better.

Ibu Ir Musdhalifah said, “I am very happy that the industry, the Government and the consumers have come together on this platform for sustainable development of the edible oil industry. Govt of India has seriously reduced their imports and efforts are on to further reduce imports. Government is working with the industry and supporting it to grow by creating a level playing field to imports.”

Teresa said, “India is our leading export market for palm oil. Malaysia’s total exports to India in 2018 was US $8.99 billion (approximately Rs 63,000 crore) and palm oil and the related product was 18.25%. We at Malaysia are actively looking to reduce the balance of debt by importing products made in India. I wish to establish a good relationship among Malaysian oil companies with Indian companies. I believe that India is a very important market and it will develop very well with the present Government support to the industries.”

Baba Ramdev, founder at Patanjali talked about his outlook on business in which he expressed his motive to build up healthy and happy India. He also touched up adulteration and economic slowdown and said that the Govt policies will help the country to grow. On business grounds, he revealed, “Patanjali will invest more than 5,000 crore in Ruchi Soya. Ruchi Soya and Patanjali will have maximum share in all types of edible oil in the near future.”

A Memorandum of Understanding (MoU) was signed between The Solvent Extractors’ Association (SEA) of India, the Malaysian Palm Oil Board (MPOB) and Global Sustainability support organization – Solidaridad Network Asia Limited (SNAL) during the Globoil Annual Conference. The objective of this MoU is to jointly promote Malaysian Sustainable Palm Oil (MSPO) and Indian Palm Oil Sustainability Framework (IPOS) through harmonization between the two national standards. It would lead to the joint promotion of IPOS aligned MSPO certified palm oil to Indian markets and support smallholder palm oil producers in Malaysia to produce sustainably. There are plans to start promotional campaigns in India to close the gap between the issues of perception, allegations and the realities of palm oil. The event ended with Globoil India Awards 2019.

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