India and China seal pact on edible oil trade
Business
India and China just signed a new deal to shake up the edible oil market.
The agreement, sealed on July 1, 2026, means India will import more soybean oil from China while also exporting mustard and soybean meal.
It's a move aimed at making trade smoother for both sides.
China joins top soybean oil suppliers
China is now joining Brazil and Argentina as a top supplier of soybean oil to India, important since India imports about 60% of its edible oils.
With local production lagging behind demand, this pact could help keep prices steady and encourage more collaboration between the two countries' food industries.
Both sides are hoping it sparks growth in their agriculture sectors and brings some fresh innovation to the table.