Mumbai, 30 July 2019 – The 6thMalaysia-IndiaPalm Oil Trade Fair and Seminar (POTS)
at Taj Lands End Hotel has been officiated by theHonourable Madam Teresa Kok,
Malaysia Primary Industries Ministertoday. Themed “Malaysian Palm Oil:
Enhancing Relationships and Harvesting Opportunities,” the event aims tobring
together various stakeholders in the palm oil industry to network and to share
the latest developments pertaining to this important industry whilst imparting
knowledge on the challenges, opportunities and prospects of palm oil in the
global oils and fats market.
Speakers at the seminar are renownedindustry captains
and experts from Malaysia, India, and Germany.The papers presented cover topics
on oils and fats ranging from market challenges to price outlook, and palm oil
applications to health.
In her speech during the launch of the seminar, Madam
Teresa Koksaidthat the event itself, the sixth POTS organisedin Indiareflects Malaysia’s
appreciation of India and the importance of India to the Malaysian palm oil
industry.
As
at May 2019, the total Malaysian palm oil imported by India is 2.16 million
tonnes, an increase of 76% compared to thecorresponding period in 2018. This is
due to the MICECA trade agreement signed between both governments, effective
January 2019. Palm oil in India is mainly used as a cooking oil for both
industrial and domestic sectors. The usage of palm oil can be expanded further
to confectioneries products such as chocolates, bakeries such as cookies and
bread, nutraceutical derivatives such as Vitamin A beta carotene and Vitamin E
tocotrienols, cosmetics and pharmaceuticals.
According
to Madam Teresa Kok, the total trade between Malaysia and India has increased
by 2.2%to USD15.56 billion in 2018 from USD 14.29 billionin 2017, comprising
palm oil, oils and gas, automobiles, chemicals, and finished goods. Meanwhile,
Malaysian foreign direct investment (FDI) in India from April 2000 to March
2019, stood at USD 932.19 million.
Commenting
on the bilateral trade between Malaysia and India, Madam Teresa Kok said,
“India is one of our most important export
destinations.We should also explore new areas for further cooperation
and rejuvenate our business linkages and cooperation, to ensure continuous
progress of the palm oil industry.”
Over
the years, a large number of world-renowned companies have collaborated with
Malaysian partners through joint ventures in the downstream sector. This is not
only because of readily available palm oil and palm kernel oil, but also
because Malaysia offers the right policies for the growth of palm oil business,”
she added.
Madam Teresa Kokalso urged the private sectors of the
two countries to explore areas for further
cooperation and rejuvenate business linkages, in order to ensure continuous
progress of the bilateral trade between the two countries. In the upstream
sector, opportunities exist in technology innovation, farm
mechanization,agricultural expertise and raw materials management. One such
example is the development in genome sequencing for palm oil, where the related
expertise in biotechnology has been made available. Such progression ultimately
benefits breeders, producers and consumers of palm oil.
Malaysia-IndiaPOTS 2019is the 58thof its
series since its introduction in 2006.
This is the 6thPOTS held in India, to address the oils and
fats trade community. Malaysia-India POTS 2019 is organised jointly by
Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Board (MPOB),with the
support from the Solvent Extractors’Association (SEA) of India.
THE HONOURABLEMINISTER YBTERESA KOK
MINISTER OFPRIMARY INDUSTRIES,MALAYSIA
AT THE OFFICIAL OPENING OF
MALAYSIAN PALM OIL TRADE
FAIR &SEMINAR (POTS) 2019
30 JULY 2019
MUMBAI, INDIA
(VVIP and VIP to
be confirmed)
His Excellency Dato' Hidayat Abdul Hamid
High Commissioner of Malaysia to India
Yang BerbahagiaTan Sri Dato Seri Mohd Bakke Salleh
Chairman
Malaysian Palm Oil Board
Yang Berbahagia Dato’ Lee Yeow Chor
Chairman
Malaysian Palm Oil Council
Yang
Berusaha Dr. Ahmad Parveez Hj. Ghulam Kadir
Deputy
Director General
Malaysian
Palm Oil Board
Yang Berbahagia Datuk Dr. Kalyana Sundram
Chief Executive Officer
Malaysian Palm Oil Council
Honoured Guests, Distinguished Participants
Ladies & Gentlemen,
A very good morning and a warm welcome to all
delegates to the Palm Oil Trade Fair & Seminar (POTS India) 2019co-organised
by the Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Board (MPOB).It
is indeedan honour for me to be here to officiate POTS India 2019, which is a
prestigious event participated by various stakeholders from the international and
Malaysian oils and fats fraternity.
2. POTS
India 2019 has the dual aim of bringing together various stakeholders in the
palm oil industry to network and enrich participants with the latest
developments pertaining the palm oil industry whilst imparting knowledge on the
challenges, opportunities and prospects of palm oil in the global oils and fats
market. This highly acclaimed event has an appropriate theme “Malaysian Palm Oil : Enhancing
Relationships And Harvesting Opportunities” as it is reflective of the
challenges and opportunities faced by the palm oil industry.
3. Gathered
here today, participants are from cross section of palm oil and allied
industries, both in the form of speakers and delegates and I believe this will
give us an opportunity to get insights fromglobally renowned expertson the
issues, challenges, opportunities and developments not only in the palm oil
industrybut also the global oils and fats sector as well. In addition to the seminar papers and
presentations, an impressive line-up of exhibition booths displaying palm oil
related products and services from Malaysia and abroad is something worth
exploring. I am confident that there will be some possible business
opportunities just waiting to be discovered.
Distinguished Guests, Ladies and Gentlemen,
4. The palm
oil industry is a very important industry for Malaysia which generated export
earnings of RM67.5 billion in 2018. Malaysia produced
more than 19.5 million metric tonnes of crude palm oil (CPO) from a planted
area of 5.85 million hectares. Palm oil industry is the largest agricultural
contributor to Malaysia’s Gross Domestic Product, including generating
employment opportunities for decades and reducing the level of rural poverty in
Malaysia.
5. Our palm
oil industry has been well diversified with the successful establishment of
downstream processing activities in refining, oleochemicals, phytonutrients,
biodiesel, biomass and other value added products. The Malaysian government too
has taken many proactive initiatives to complement private sector ventures by
overseeing the development and improvement of the national infrastructure and
support facilities such as roads, ports, bulking installations and
transportation
6. Malaysiais
an advocate of sustainable palm oil and has implemented mandatory certification
of certified and sustainable palm oil under the framework of Malaysian
Sustainable Palm Oil (MSPO). MSPO has been developed taking into account
domestic laws and regulations including sustainability criteria and also
encompasses the 3P’s of sustainability (People, Planet and Profit) which aligned
with the United Nations Sustainable Development Goals (SDGs). This scheme which
was implemented on a voluntary basis in the beginning 2015 will be made
mandatory by end 2019. As May 2019, total area certified under MSPO stood at 2.130
million hectares and growing.
7. Nevertheless,
despite all the effort undertaken, the palm oil industry continues to receive
its share of negative publicity. Disturbing allegations from the
Non-Governmental Organisations (NGOs) include labelling the industry as
damaging, destructive and unsustainable. Palm oil is being held accountable for
the destruction of rain forests and wildlife habitat. Unfortunately, the anti-palm campaigners now
have made a successful foray into India as well. As it is, with an
ever-increasing social media influence, overseas anti palm campaigns have been
crossing Indian borders. So-called experts just put out messages on social
media which went viral. Although heavily criticised by the scientific
community, they achieved their objective of raising doubts in the minds of the
lay person. With social media not being subject to any geographical boundaries,
this is not only an issue to be addressed within India but needs on a global
basis.
8. Towards
this end, Malaysia will continue to face these allegations with scientific
facts and evidence that the palm oil is healthy and nutrition and the
development of palm oil does not has detrimental effect to the environment. In
addition, MPOC has been spearheading marketing efforts as well as being
actively involved in countering negative allegations on palm oil. This year we have also launched a national
campaign, “Love MY Palm Oil” both in Malaysia and in international markets, to
disseminate and educate all the consumers about palm oil and correct any
misconception about this 5 Star Malaysian Product .
Distinguished Guests, Ladies and Gentlemen
9. India and
Malaysia share a long rooted historical and cultural commonality, as well as
good relationship which has over time developed and helped craft the landscape
for economic and commercial relations between our countries. Malaysia has
always looked upon India as a strategic and important trade partner which trade
has evolved from items such as spices, clothing, and food to current items such
as commodities particularly palm oil, oils and gas, automobiles, chemicals, and
finished goods. In 2018, total trade with India increased by 2.2%to RM 62.76
billion (USD15.56 billion) from RM 61.38 billion (USD14.29 billion)in 2017.
10. Palm oil is
one of the largest commodities traded for Malaysia, and we regard India as a
very important export destination. India’s oils and fats market is dynamic and
constantly growing due to population growth and increased affluence. India is a
country which needs to import oils and fats to satisfy its domestic demand. In
this regard, India imports about 60% of its total consumption and this is an
area where Malaysia plays an important role. I would like to take this
opportunity to thank India for its continuous collaboration and support for the
palm oil industry. I believe that opportunities are abound and limitless for
private sector both in India and Malaysia to redefine the business approaches;
whether in the form of partnerships and strategic alliances or to discover new
avenues for expanding the edible oil and palm oil business.
Distinguished guests, ladies and gentlemen,
11. I
sincerely believe that POTS India 2019 will provide a platform for industry
players from different streams of activities within the commodity sectors to
have meaningful discussions, and perhaps even shed some light on the challenges
faced by palm oil today. Listen to the speakers, ask questions, speak out if
you have any ideas to put forth. Let the world know that this “green and golden
crop” that yields “golden oil” has many supporters and proponents around this
part of the world – and that we are justified in our endorsement of this “gift
from nature”.
12. Before I
conclude, I would like to record my appreciation to the organisers, the media for highlighting this
event, our sponsors and other service providers who have collaborated with us
to ensure the success of POTS India 2019.
13. I am also
confident that this seminar will also bear the fruits of truth where palm oil,
especially Malaysian Palm Oil can be seen in its true colours and ultimately
close the gaps between the issues of perception, unfounded allegations and
reality. Thank you to all the delegates
for taking time off from your busy schedules to be part of this event. I hope
this POTS India 2019 will bring new perspectives to further develop and
strengthen the Malaysian palm oil trade. With that in mind I encourage all
participants to make the most of this event to interact and explore
possibilities of joint investments which will enhance your business.
14. On this
note, I now declarethe opening of the Palm Oil Trade Fair & Seminar, India,2019.
Namaste – Thank you.
YB Teresa Kok
Minister of Primary
Industries, Malaysia
Mumbai, India
30 July 2019
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