kuala lumpur: The Malaysian Palm Oil Council (MPOC) recently secured a total potential revenue of RM705 million from business matching sessions during a trade and networking visit for buyers in the Middle East and North Africa (Mena).
According to MPOC CEO Belbinder Slon, oil and fat company buyers in the three Mena countries of Turkiye, Egypt and Algeria are selling refined bleached and deodorized (RBD) palm oil in both consumer packs and bulk containers. Olein, cooking oils, shortenings, and special fats.
He said the initiative was a success and MPOC has been approached by industry stakeholders to organize similar programs for markets in the Asia-Pacific and sub-Saharan Africa regions.
“The success of this program is due to the cooperation and strong support of Malaysian palm oil stakeholders.
“More industry players will participate in the upcoming edition of ‘Trade and Networking’ as it is important to intensify efforts to promote sustainable Malaysian palm oil to the world and tap into untapped markets. “We encourage this,” she said in a statement yesterday.
One of the Malaysian companies that attended the event said that the program helped local SMEs access different markets and gain exposure on international platforms for the palm oil industry.
Oilnco Industries Sdn Bhd’s regional sales manager Mohammed Zubir Abdul Razak said the company’s products are mainly exported to the Middle East and Central Asia, and the palm oil industry prefers to use soybean and sunflower oils. He said he hopes to be able to penetrate the market.
“Entering European markets requires long-term strategies rather than short-term solutions. Successful entry into these markets therefore requires establishing connections at various levels, including ministerial levels. there is.
“This is where an organization like MPOC can come and help industry players market palm oil products into these countries,” he told Bernama recently.
On the other hand, a participant from Egypt said that the level of acceptance of palm oil products is very good as Egyptians prefer plant-based products.
Amr Heiba, vice chairman and manager director of Cairo Oil & Soap Company, said that although Egyptians prefer soybean and sunflower oils, they are moving away from using palm oil-based products due to competitive prices in the market. He said he was positive.
“This is our first time visiting Malaysia, and we thought it was interesting to see the various processes involved in the palm oil production supply chain at a plantation site.
“This type of event (if held in the future) should be expanded to more countries to help promote palm oil products,” he said.
The three-day program will focus on the Malaysian palm oil sector, including presentations on the nutritional and health properties of Malaysian palm oil, as well as updates from the Malaysian Palm Oil Refiners Association on reviews, outlooks and current issues in the midstream or downstream sector. provided insight.