India, Indonesia palm oil groups sign pact to deepen economic ties
The Indian Vegetable Oil Producers’ Association (IVPA) and Indonesian Palm Oil Association (IPOA) signed a three-year MoU to enhance cooperation in the palm oil sector. Indonesia remains India’s top palm oil supplier, vital to meeting over 60% of India’s edible oil needs.
NEW DELHI: (Jul 24) The Indian Vegetable Oil Producers’ Association (IVPA) and Indonesian Palm Oil Association (IPOA) on Thursday signed a three-year pact here to deepen economic ties and ensure food security.
The memorandum of understanding aims to strengthen collaboration in the palm oil sector, which forms the backbone of the edible oil trade between the two nations.
India imports over 60 per cent of its edible oil requirements, with Indonesia serving as its largest palm oil supplier for more than a decade, according to industry body SEA India.
Source : PTI
