Platform for Palm Oil Players

The palm oil industry has become the target of negative campaigns and pressure by groups with vested interest to ensure the commodity gains a bad reputation.

These parties perceive palm oil as a threat because it is the most competitively priced oil that is traded at a discount.

As such, the Malaysian Palm Oil Trade Fair and Seminar (POTS) KL 2012 next week will discuss at length the issue of NGOs as well as the supply of sustainable oils and fats.

Major oils and fats importers and exporters will be present at the event organised by the Malaysian Palm Oil Council (MPOC) at the Shangri-La Hotel Kuala Lumpur on Oct 15 and 16. The theme for POTS KL 2012 isMalaysian Palm Oil: Breaking Barriers … Creating Opportunities – which reflects the current scenario.

Malaysia, as one of the leading producers of oils and fats in the world, has long established business relationships with many countries. Among the export destinations of Malaysian palm oil are China, India, the European Union and the United States.

This year, there were more challenges for Malaysian palm oil as a result of the European financial crisis and the slow economic growth in the US. In the first eight months of this year, Malaysian palm oil export almost reached 11 million metric tonnes, yet this export volume was slightly lower compared to the same period of 2011.

But export of Malaysian palm oil remains strong as many countries depend on palm oil imports for their domestic oils and fats requirements, especially when their domestic production is unable to meet their demand. Palm oil will continue to be an important import for these countries because it is arguably the most affordable oils and fats, and the only oil that has been certified sustainable.

Plantation Industries and Commodities Minister Tan Sri Bernard Dompok will launch POTS KL 2012, a biennial event and the fourth since the first was held in 2006.

The trade fair and seminar serve as a platform for palm oil industry players to gather new market insights and to network. The event will focus on topics such as market development, challenges to the industry, price forecast and biodiesel.

Minister in the Prime Minister’s Department Datuk Seri Idris Jala, who is also the chief executive officer of the Performance Management and Delivery Unit (Pemandu), will present a plenary paper on Economic Transformation Programme – Way Forward and Opportunities in Palm Oil.

Regional workshops on opportunities in marketing palm oil in various regions in the world will also be conducted.

For more details, call Izham or Kharibi (03-7806 4097 / /

Source : The Star

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