A 16-member delegation and top officials of Solvent Extractors Association of India (SEA), India’s premier vegetable oil organization is on a tour of Russia to study the sunflower complex, and to gain first-hand insights into production, processing, and exports. The tour between India and Russia is aimed at understanding the entire process of sunflower production and to foster strong business relations with Russian farmers, producers and exporters. A week-long tour has been organized in collaboration with the Russian Export Centre Group and is being led by SEA President.
India – Russia Oil Trade Relations will be Stronger
The team held discussions with more than 30 exporters of sunflower oil, soybean oil and other products from Russia. Further, Officials of the Indian Embassy, Moscow, Anurag Nayan (Second Secretary) and Anugrah also assured help in simplifying financial transactions through the ruble-rupee payment system. For the unversed, Rupee-rouble trade is a payment mechanism which can allow Indian exporters to be paid in Indian rupees for their exports to Russia.
India imports 57 percent of its edible oil from countries like Indonesia, Malaysia, Thailand, Argentina, Brazil and Russia. This initiative by SEA team is poised to help India in becoming self-reliant in edible oil.