Sunday 11 August 2019

Malaysia-India Palm Oil Trade Fair & Seminar 2019to Enhance Relationship and Harvest Opportunities between the Two Countries

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.
KEYNOTE ADDRESS BY

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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