Tuesday, April 16, 2024
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HomeBiz NewsThe Solvent Extractors' Association of India

The Solvent Extractors’ Association of India

In the backdrop of the support being provided by the Government of India to Sri Lanka, the Asian Palm Oil Alliance (APOA) led by India’s Solvent Extractors Association (SEA) – the premier association of the vegetable oil industry & trade in India – has written to the Hon Prime Minister of Sri Lanka and other senior ministers and officials offering support to the oil palm industry to achieve its fullest potential for the benefit of Sri Lanka’s ailing economy. 

Some key points in the letter;

  • Palm oil can emerge as a strategic commodity for Sri Lanka. It is in 50% of all consumer products and plays a central role in a slew of industrial applications. There is no realistic alternative for palm oil for most of the applications and countries.

  • Over the last decade in Sri Lanka, edible oil consumption has been growing at a CAGR of 3%. At present, local consumption is around 264,000 MT, from which only about 20% is produced locally. Expanding in coconut from the present 40,000 MT to meet the shortfall is neither economically viable nor technically feasible.

  • SEA, along with partners like Solidaridad and the Indian Institute of Oil Palm Research (IIOPR), is actively promoting the adoption of palm oil by Indian smallholders under National Mission on Edible Oil -Oil Palm (NMEO-OP) as a model for self-reliance on edible oils as envisaged by our honourable Prime Minister Sri Narendra Modi.

  • We are happy to share more information on our experiences with NMEO-OP in India to support Sri Lanka to be self-reliant on vegetable oil production as well. It could save the Sri Lankan exchequer millions of dollars of import bills.

  • We sincerely hope the Sri Lankan Government will review its decision to ban oil palm cultivation and allow increased production of oil palm in the country.

  • SEA and its partner Solidaridad are willing to support our partner Sri Lanka Palm Oil Industry Association (POIA) and other stakeholders, through the following means:

  1. Encourage and facilitate collaboration between Sri Lankan and Indian research institutes to develop basic, strategic and applied research on genetic resource management, crop improvement, and production technologies to enhance oil palm productivity.

  2. Willing to share our experiences and assist the Sri Lankan Government in designing a palm oil mission with a vision of producing 250,000 MT of palm oil in the country to achieve self-sufficiency in vegetable oils and reduce the outflow of foreign exchange.

  3. Offer support to Sri Lanka to devise its own sustainability framework, which is inclusive and considers the concerns of the local people. 

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