Soya oil and agri-business get a boost: CII

Soya oil and agri-business get a boost: CII

New Delhi: At an international Solvent extract meet in Goa, CII has signed an MoU with Paraguay Oilseeds Crushers Association (CAPPRO), to strengthen trade and investment relations between the two countries, especially in the field of agri-business.

This is particularly important against the backdrop of increasing trade in soya oil amongst Latin America and Caribbean nations.

Areas of joint interest include:

* Exchange information on all economic, commercial and industrial matters

* Promote investment and technology transfer between the two countries through joint ventures and other mutually beneficial agreements

* Provide support, identify specific projects and partners in agri-sector

* Tax benefits will be provided to investors

* Share best practices - Paraguay has highly developed farming infrastructure and high productivity in farm produces with zero tillage and zero burning of residue.

Jose M H Vargas Pena , president CAPPRO said Paraguay offered agricultural farm land to Indian investors for producing soya beans, peanuts and sunflower for edible oil.

The MoU was signed by President CAPPRO and Dharmesh Joshi, CEO BNN Foods and Beverages Limited in the presence of H.E. Genaro V Pappalardo, Ambassador of Paraguay to India and Guillermo Alcaraz, Director Exports and Investment Promotion (REDIX), Ministry of Commerce and Industry, Paraguay.