SEA delegation to explore collaboration potential with Thai palm oil industry
22/08/2023 (The Hindu Business Line) - A delegation of the Solvent Extractors’ Association (SEA) of India will be visiting Thailand to explore the potential for collaboration with the palm oil industry in Thailand.
Stating that the visit of the SEA delegation to Thailand holds great potential for Indian edible oil industry’s growth and collaboration, BV Mehta, Executive Director of SEA, said the delegation will delve deep into Thailand’s flourishing palm oil complex.
On exploring Thailand’s palm oil complex, he said the delegation aims to grasp the intricate dynamics of Thailand’s palm oil industry. The delegation will look at gaining insights into the seamless processes and vast export opportunities that Thailand offers.
Establishing direct contact
Mentioning that the delegation will be fostering direct relationships with Thai producers and exporters, he said direct connections will be established with the key players in Thailand’s palm oil sector.
At present, oil palm plantations in Thailand yield 3.2-3.5 million tonnes (mt) annually. Of this, 1.2 mt caters to the domestic needs of Thailand. He said an additional 1.2-1.5 mt fuels Thailand’s innovative 7 per cent bio-diesel blend. Around 1 mt of palm oil is exported, predominantly to India. Remarkably, this constitutes a substantial 15 per cent of India’s total palm oil imports, he said.
The Department of International Trade Promotion (DITP) under the Thailand’s Ministry of Commerce has invited the SEA to lead a delegation of major importers and refiners on a comprehensive study tour to Surat Thani, Thailand’s foremost oil palm cultivation region, he said.
Ajay Jhunjhunwala, President of SEA of India, is the leader of the 19-member SEA delegation to Thailand, and Atul Chaturvedi, Chairman of the Asian Palm Oil Alliance, is the deputy leader of the delegation. The delegation will depart for Thailand on August 23, he said.
Thai palm oil leaders will also be invited to celebrate SEA’s 60th year anniversary and Globoil India -2023, he added.