Earlier, the Solvent Extractors' Association (SEA) of India, too, had held a two-day seminar (on September 24 and 25) in Mumbai on almost similar lines.

The SEA's event on the oilseeds complex is said to be an annual one, while those to be held in Indore and Chennai are said to be for the first time.

Spread as these events are in centres outside Mumbai, they become important for all those connected with the oilseeds complex in the oilseeds growing and consuming regions.

SBoT, which is in the heart of soyabean growing region of Madhya Pradesh, is India's first soya futures exchange. It kicked off trading in futures of soya complex on February 10, 2000, and conducts trading in futures of mustard and rapeseed complex as well. The exchange, incorporated on July 30th 1999, claims to have registered a turnover of more than Rs 4,000 crore on various segments of the exchange.

The oilseeds complex convention to be held in Chennai becomes important more so for those connected with the coconut-growing and traders of coconut oil.

This is because over the past one month there have been few instances of intense opposition from coconut growers and coconut oil traders agaist the surging imports of cheap palm oil from Malaysia and Indonesia that seem to have damaged the serenity in the domestic coconut complex.

The SBoT's convention (like SEA's) aims to focus on price outlook, demand and supply situation in India and the world. Delegates from major oilseeds, meal, vegetable oils centres, mainly from Malaysia, Indonesia, Argentina and Brazil, including trade industries and export houses are expected to attend the convention.

The convention will discuss on the first day `Analysis of Malaysian and Indonesian Palm Oil scenario' which will be delivered by Mr Alex Tan of Malaysia and Mr John Lou of Indonesia.