�AGROBiz � �AY-JUNE . 2024

Malaysia ’ s Palm Oil Forum unites global markets

BY ADELINE ANTHONY ALPHONSO

The event was inaugurated by Malaysia ’ s Minister of Plantation and Commodities , Datuk Seri Johari Abdul Ghani , who presented the main speech and led a Malaysian delegation to Egypt and Türkiye for a working visit from May 27-Jun 1 .

In his speech , Johari emphasised the critical role of Malaysian palm oil in the global market and its contributions to sustainable agribusiness . He stated that Malaysia is a crucial palm oil producer , accounting for 23 per cent of global supply and producing US $ 22 billion in exports last year alone .

Johari highlighted the vast potential of the North African region , which remains largely untapped , for creating higher-value products from palm derivatives .

He specifically mentioned the significant growth potential of oleochemicals used in various industries such as pharmaceuticals , cosmetics , processed foods , personal care , and consumer brands .

“ Our industry players can collaborate by forging new partnerships and building strategic alliances .

“ These efforts will help us tap into new markets for Malaysian palm oil and further expand our presence in this region ,” he added .

The industry supports over 450,000 small farmers and is integral to various non-food sectors .

Minister of Supply and Internal Trade of Egypt , Dr Ali El Moselhi , welcomed him in Cairo , and an update on the social media site , X ( formerly known as Twitter ), Johari posted : “ I look forward to further cooperating with His Excellency Dr Ali to ensure mutually beneficial trade relations .”

Egypt , a major trade partner and a significant consumer of Malaysian palm oil , made Cairo a strategic location for the forum . The aim was to expand Malaysian palm oil exports across Africa , with Egypt as a hub for re-exports .

The forum , organised by the Malaysian Palm Oil Council ( MPOC ) in Cairo , drew the participation of prominent figures , stakeholders , and specialists from Egypt , Malaysia , and other countries .

Notable delegates from prominent Malaysian palm oil suppliers like Wilmar International , FGV Holdings , Bursa Malaysia , Pacific Inter-Link , Alami Commodities , and Mac World Industries were present .

A PLATFORM FOR COLLABORATION AND INNOVATION

The theme , “ Malaysian Palm Oil - Paving the Way for Sustainable Agribusiness ”, emphasised Malaysia ’ s dedication to sustainable practices . It is consistent with global environmental imperatives and underscores the robust bilateral relationship between Egypt and Malaysia .

Addressing the areas of future collaboration and growth in the North African region , Johari stated : “ The region offers numerous untapped opportunities for creating higher-value products and higher-value derivatives , such as oleochemicals used in various industries , such as pharmaceuticals , cosmetics , processed foods , personal care , and consumer brands .”

He highlighted the opportunity for industry participants to work together by establishing new partnerships and forming strategic alliances , as this would facilitate the exploration of untapped markets for Malaysian palm oil and enhance its regional footprint .

MARKET INSIGHTS AND ECONOMIC IMPACT

Also present at the forum was Malaysian Palm Oil Council ( MPOC ) Chief Executive Officer ( CEO ) Belvinder Kaur Sron , who stated that palm oil is an economically essential and versatile edible oil crucial for both food and non-food industries .

( In Egypt , palm oil and its derivatives are the primarily imported vegetable oils , with imports totalling 1.08 million tonnes in 2023 - representing 58 per cent of the entire imports of oils and fats .)

The Malaysian Palm Oil Forum ( MPOF ) initiative by the Malaysian Palm Oil Council ( MPOC ) facilitates engagement

�at�� �eri �ohari �hani officiating �he �a�a�sian �a�� �i� �or�� ������ Egypt 2024 .

Datuk Seri Johari Ghani with Dr Ali El-Moselhi , Minister of Supply and Internal Trade , Egypt .

between the Malaysian palm oil industry and critical buyers and end-users .

The MPOF in Cairo was more than just a meeting ; it was a convergence of minds , and a melting pot of ideas focused on the growth and expansion

The Malaysia-Egypt Industry Dialogue and Luncheon , chaired by Datuk Seri Johari Abdul Ghani .

of the Malaysian palm oil industry .

The forum has paved the way for a brighter future for the palm oil industry in North Africa by promoting sustainable agribusiness practices and expanding trade ties . This event not only enhanced economic opportunities but also strengthened the commitment to environmental sustainability , benefiting stakeholders across the globe . – @ AGROBiz