SEA Urges Modi to Protect Indian Edible Oil Industry

The Solvent Extractors' Association of India (SEA) has urged Prime Minister Narendra Modi to regulate the inflow of cheaper edible oils from Nepal and other SAARC countries. SEA highlights that zero-duty imports under the SAFTA agreement harm domestic processors, oilseed farmers, and government revenue.

The Solvent Extractors' Association of India (SEA) has raised concerns about the surge of low-cost cooking oils entering India from Nepal and other SAARC nations. In a letter to Prime Minister Narendra Modi, SEA underlined the severe impact these imports have on domestic refiners and oilseed farmers.

SEA President Sanjeev Asthana emphasized that the influx, facilitated by zero-duty imports under the SAFTA agreement, is causing significant disruption across various regions in India and resulting in substantial revenue losses for the government. The organization urged the imposition of a Minimum Import Price (MIP) to mitigate these effects.

SEA proposed that the government should amend the SAFTA agreement to align duty-free imports with domestic demand and suggested channelizing through public sector undertakings like NAFED. The association reiterated the necessity of protecting Indian interests and stabilizing the market.

(With inputs from agencies.)