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Our Bureau

Mumbai April 24

A premier event of the global vegetable oil industry Globoil International 2007 will be held in Jakarta (Indonesia) during May 1-3.

The event will bring together industry majors from many parts of the world to take stock of the current market situation and emerging trends.

Indonesia is rapidly catching up with Malaysia as the world's leading palm oil producer. Much of the future growth is expected to come from Indonesia given land availability and lower production costs.

Palm oil market

India is a major importer of palm oil with annual purchases of nearly 30 lakh tonnes. With recent reduction in customs duty, the market opportunity for palm oil is believed to stand enhanced.

Bio-diesel has emerged as a significant market driver for the world vegetable oil sector. Large diversion of palm oil, as also other oils, for fuel purposes has propelled prices to new highs not seen in recent years.

Experts from around the world representing different stakeholders, including policymakers, plantation companies, processing industry, trading houses and industrial consumers, will discuss issues ranging from global demand-supply fundamentals, impact of biodiesel, oleochemicals scenario, risk management and futures trading.

The highlight will be a `Price Outlook' session with top industry representatives and analystssharing their views of the market.

Mr Kailash Singh, head of Tefla's Commodity Interface, the event organisers, told Business Line the event would be accompanied by Globoil International Exhibition to showcase latest products and services related to the industry.

Globoil Awards are also likely to be given away to companies and individuals for their outstanding contribution to global quality standards and competitiveness. More information on the event may accessed at www.globoilinternational.com

More Stories on : Oilseeds & Edible Oil | Events

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