Federation of Oils, Seeds and Fats Associations

The Federation of Oils, Seeds and Fats Associations (FOSFA International) is the main trade association for the oil, seeds and fats industry. It regulates legal contracts in the trade/industry.[1]

Federation of Oils, Seeds and Fats Associations Ltd
AbbreviationFOSFA International
Formation25 January 1968 (1968-01-25)
TypeTrade association
Legal statusPrivate company
PurposeOil, seeds and fats
HeadquartersLondon, EC2
United Kingdom
Region served
Worldwide
Membership
1174 companies in 89 countries
Chief Executive
Iain Nicol
Main organ
FOSFA Council (President - Daan C Vriens)
Staff
7
Websitewww.fosfa.org

History

FOSFA was formed from four other previous organisations in 1968.

It used to be based at 20 St Dunstan's Hill, London EC3R 8NQ.

Function

85% of worldwide trade in oils and fats is under FOSFA contracts.[2] It regulates trade in the industry. Its rules cover products transported with Cost, Insurance and Freight (CIF) or Freight on Board (FOB).

The advantage of having the vast majority of worldwide trade under FOSFA contracts is that using standard contracts reduces the risk of misinterpretations or misunderstandings between trading parties.[3] Additionally, these standard form contracts are familiar to trading parties and reflective of trade practices that are longstanding in the industry.

It holds week-long residential training courses during the summer and Autumn at Royal Holloway, University of London.

See also
  • British Association of Cold Pressed Oil Producers
  • National Edible Oil Distributors Association - linked to the Food and Drink Federation
  • EU Oil and Proteinmeal Industry - FEDIOL
  • European Federation for the Science and Technology of Lipids

References
  1. Federation of Oils, Seeds and Fats Associations, Retrieved June 2011
  2. "About us | FOSFA". www.fosfa.org. Retrieved 2020-11-11.
  3. "Regulatory issues associated with the international oils & fats trade". www.aocs.org. Retrieved 2020-11-11.
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