OFI INDIA 2017
NEW DATES ANNOUNCED
OFI India 2017 will now be held on 19 - 20 May 2017 at the Bombay Convention & Exhibition Centre (BCEC) - Mumbai. Click here to add the dates to your diary.
OFI India 2016 attracted over 600 attendees and OFI India 2017 promises to be bigger and better, bringing together business, science and technology all under one roof in India’s commercial and financial capital.
INDIA - THE WORLD'S KEY EDIBLE OIL MARKET
India is a US$2tr economy, with GDP is growing at more than 7% and a population of over 1.2bn people.
It is the world’s largest edible oil importer, with an oil and oilseed turnover of US$25bn and import-export turnover of some US$13bn.
India’s demand for edible oils is some 21M tonnes/year. It meets this with domestic production of some 7-8M tonnes and imports of 14-15M tonnes – some 70% of the country’s requirements – valued at over US$12bn.
The country’s edible oil imports have soared by almost 50% in the last five years, with imports of palm oil growing by 25% and soya oil jumping by 300%.
India’s consumption growth is pegged at 5%/year and the country is expected to be consuming around 34M tonnes of edible oil by 2025, with a projected vegetable oil imports bill of US$25bn.
Increases in the population and lifestyle changes are driving a rise in edible oil consumption, meaning interest is strong in this growing market.
If you are interested in meeting and networking with your existing and potential partners and business facilitators within this expanding sector then you can’t miss the opportunity to have a presence within this industry-leading exhibition OFI India 2017. Get in touch with our OFI India team to find out more.
Ruchi Soya to process and pack edible oils for Patanjali Ayurved
India’s Ruchi Soya Industries has signed a three-year agreement to process and pack edible oils supplied by consumer goods company Patanjali Ayurved, the Economic Times reported on 13 February.
Sharplex supplies world’s largest vertical pressure leaf filter to Adani Wilmar
Process filtration equipment company Sharplex Filters (India) reported in January that it had received its first order for the world’s largest vertical pressure leaf filter (VPLF), which it designed six months ago.
Standards for food fortification
The Food Safety and Standards Authority of India (FSSAI) has set out standards for fortification of basic food items such as milk, wheat flour and cooking oil with micronutrients and is also weighing up legislation to make some fortification compulsory, just-food reported on 25 November.
New mechanism to help oil marketing companies blend ethanol with petrol
India’s Cabinet Committee on Economic Affairs (CCEA) passed a proposal on 13 November to set up a new mechanism to revise ethanol prices to help public sector oil marketing companies (OMCs) blend ethanol with petrol, reports Business Standard.