The Central Organisation for Oil Industry & Trade (COOIT) was formed as a Limited Company under the Company’s Act1913 on 17th October 1951 and incorporated as such on 1st October 1952 as the Apex Organisation of the entire vegetable oil and oilseeds sector in India. Shri Naval H. Tata, Mumbai and Shri Ratilal M. Gandhi, Mumbai & Shri A. B. Godrej were the founder President and founder Chairman respectively of the COOIT and now its been leading by Shri Laxmichand Aggarwal as a President. They rendered yeoman services to the COOIT during their tenure.
Its membership spans the whole of India across all sectors of the vegetable oil trade and industry and its membership includes nearly 40 leading Associations in different parts of the country representing regional and sector specific interests such as the Oil Milling industry, Refining industry, Vanaspati, Solvent Extraction, Soaps industry, Export-Import Trade etc. including Export Promotion Associations and Future Trading Exchanges in oilseeds/oils. In addition, nearly 130 prominent manufacturers/business houses and traders connected with oilseeds and their products, machinery manufacturers, service providers etc. are also members of the Central Organisation.
The affairs of the Central Organisation are managed by the Executive Committee whose meetings are held at regular intervals in different parts of India.
- To promote, aid, help, encourage, develop and protect industry, commerce and trade in oilseeds, vegetable oils, oilcakes and allied products.
- To work for increasing oilseed production in the country and play the role of a catalyst in this regard, by bringing together all the stake-holders for coordinated efforts to increase production and productivity of oilseeds.
- To promote co-operation among Associations, firms, companies and persons engaged in/or connected with the vegetable oils and allied products.
- To deal with the day-to-day problems of the oilseeds, vegetable oils, oilcakes and allied industries and/or trade on regional, national or international level and secure redressal thereof from any Government, Central, State or Local or any other Authority.
- To promote and organise scientific and technological development and research to advance oilseeds, oils and allied products industry and trade.
- To influence Government policies and legislation having a bearing on the vegetable oil industry and trade
- To protect the interests of Consumers, Oil Seed Farmers and Oil Industry & Trade
- To ensure equitable availability of safe edible oils to the consumers at affordable price
- To assess the domestic production of oilseeds and availability of oils from all domestic and import sources
- To suggest and recommend to the Government the remedial measures in order to improve domestic edible oil situations while framing policies related to oils seeds and oils sector
- To create awareness among the Oils Seeds and Oils Industry & Trade for adopting frontier proven science-based technology and newer marketing strategy
- To facilitate effective implementation and achieving objectives of the promulgation of the Food Safety and Standards Act,2006 and Rules & Regulations made there under so as to ensure the safety of the consumers as well as uninterrupted production and supply of Food Articles including Edible Oil