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BUSINESS

MPOC wraps up resounding Palm Oil Trade Fairs and Seminar in the Philippines

17/08/2022 08:45 PM

KUALA LUMPUR, Aug 17 (Bernama) -- The Malaysian Palm Oil Council (MPOC) has concluded its Palm Oil Trade Fairs and Seminar (POTS) in the Philippines (POTS Philippines 2022) today.

In a statement, MPOC said POTS Philippines 2022 is aimed to bring together reputable Malaysian palm oil industry players to meet with existing and potential users of palm oil in the Philippines from various sectors with the aim of developing long and successful business relations.  

Speakers at the one-day seminar were prominent local industry captains and international experts from Malaysia, Europe and the Philippines. 

In her keynote address, Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin highlighted the significance of the Philippines as a trade partner and important user of Malaysian palm oil.

“The Philippines is the sixth largest importer of Malaysian palm oil in 2021. With an import volume recorded at almost 580,000 tonnes in 2021, it is a testimony that the Philippines is very important to the Malaysian palm oil industry,” she said.

Palm oil is the major oil consumed in the Philippines, followed by locally produced coconut oil, accounting for 77 per cent of the total usage of all oils and fats. 

Zuraida said POTS Philippines provides a valuable platform for those in the oils and fats business to meet and explore not only business collaborations and opportunities but also establishing trade partnerships. 

She expressed confidence that the event would widen collaborations between Malaysian and the Philippines oils and fats industry players.

“This event offers the business communities, particularly from Malaysia, to synergise and strengthen existing partnerships that have been nurtured over the years, as well as exploring new potential for cooperation,” she added.

Themed “Addressing Philippines’ Oils and Fats Diversity Through Malaysian Palm Oil”, POTS Philippines 2022 aspired to establish and continue to complement the Philippines’ growing oils and fats needs, stemming from the country’s rapid economic growth.

-- BERNAMA


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