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OILS AND FATS

Price outlook session, plant & machinery panel Globoil India highlights
Friday, 15 September, 2017, 08 : 00 AM [IST]
Shraddha Joshi, Mumbai
The second day of Globoil India, a three-day international forum for research, analysis and dissemination of knowledge on vegetable oil and related industries saw an important price outlook session and a series of sessions focusing on the import-export scenarios of different edible oil markets and the Panel on Technology on Plant and Machinery.

To celebrate its 21st year, Globoil India 2017, under the patronage of the Solvent Extractors’ Association of India (SEA), was organised by Tefla and took place at
Renaissance Mumbai Convention Centre Hotel, Powai.

Ravishankar Mantha, chief executive officer and founder, Agrisk Data Analytics, in his presentation on Kharif prospects with specific reference to oilseeds, informed about how research done by the company in two states had different outcomes due to diverse climatic type.

He said, “Imports should be taken forward in India. Maharashtra is facing a big challenge towards tur and there is a high degree of sensitivity. It is seen that groundnut sees a huge drop, while soy is in a stable position.”

The Panel on Technology on Plant and Machinery saw presentations by five companies on the recent trends and innovation in packaging, processing and machinery developed for the edible oil industry.

This was followed by the Price Outlook session, which had representatives from different groups, who are the market leaders in the edible oil industry in India.

The panellists included Atul Chaturvedi, chief executive officer, agribusiness, Adani Group, and president, SEA; Sudhakar Desai, country head, Emami Agrotech Ltd; Manish Gupta, managing director, Gujarat Ambuja Exports Ltd; P R Thakore, director, IFFCO, Malaysia; Samir Desai, managing director, COFCO Agri Ltd, and S N Jhunjunwala, managing director, JVL Agro Industries Ltd. The session was moderated by Sandeep Bajoria, chief executive officer, Sunvin Group.

The panelist provided an insight into the current and next financial years’ crop outputs and the minimum support prices (MSPs) for various edible oils in India.

The conference was supported by 30 national and international organisation. Apart from India, it witnessed huge participation from business and ministerial delegations from Malaysia, Indonesia, Ukraine, Pakistan, Argentina, the United States, the United Kingdom, the Middle-East and Germany.

The event attracted about 100 exhibitors and witnessed the participation of over 1,500 delegates.

The day ended with the Globoil awards ceremony, an entertainment programme and dinner. It was attended by Ram Vilas Pawan, minister for food, public distribution and consumer affairs, and Patanjali’s Baba Ramdev.
 
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