Geopolitical issues, port congestion impacting edible oil supply chain, says India’s solvent extractors body
The Solvent Extractors’ Association of India (SEA) reports that geopolitical tensions, especially the Iran-Israel conflict, are disrupting global supply chains and causing edible oil prices to spike by \$40–50 per tonne within a week. Despite reduced import duties by the Indian government, global instability continues to affect supply efficiency and fuel market volatility.
The Solvent Extractors’ Association of India (SEA) has said geopolitical issues are leading to major fluctuations in edible oil prices and affecting supply chain efficiency, despite the Indian government’s move to reduce import duties.
In his monthly letter to the members, Sanjeev Asthana, SEA President, said the escalating conflict between Iran and Israel has sent ripples through global markets, fuelling fears of a broader regional war in West Asia — a region pivotal to global energy supplies. The continuation of this conflict threatens to disrupt energy-intensive industries and further strain global supply chains, already weakened by post-pandemic aftershocks and ongoing geopolitical uncertainties.
To Read more about Edible Oil News continue reading Agriinsite.com
Source : The Hindu Business line
