Edible oil industry body IVPA inks MoU with China’s trade body CFNA for bilateral cooperation
India’s IVPA signed an MoU with China’s CFNA to strengthen cooperation in the edible oil sector. The partnership aims to boost Chinese crude soybean oil exports to India and expand Indian mustard and soybean meal exports, supporting trade, innovation, and sustainability between the two countries.
Edible oil industry body IVPA has signed an MoU with China Chamber of Commerce of Foodstuffs and Native Produce (CFNA) to strengthen cooperation between the companies of the two countries.
In a statement on Thursday, Indian Vegetable oil Producers’ Association (IVPA) said it has signed a Memorandum of Understanding (MoU) with the CFNA at a conference held in Shanghai on July 1.
“This cooperation establishes a strategic platform for sustained dialogue, buyer-seller connect, and collaborative initiatives that advance innovation, sustainability, and potential trade development,” IVPA said.
China has emerged as a major supplier of crude soyabean oil to India, the association said.
Sudhakar Desai, President of IVPA said, “This marks a significant milestone in strengthening bilateral industry cooperation. As the world’s two largest consumers of vegetable oils, India and China play a definitive role in shaping global demand, trade dynamics, and the future of the sector.”
The collaboration would give a fillip to soyabean oil imports from China but also enhance edible oil derivatives exports from India, primarily mustard and soyabean meals, through strengthened market linkages, Desai added.
India imports 60 per cent of its edible oil needs with imports remaining in the range of 15-17 million tonnes.
For the 2025-26 oil year, imports are projected at 16.5 million tonnes, while domestic production is estimated at 9.6 million tonnes.
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Source : Daily Excelsior
