18.06.2020 (News Today) - Chennai: As part of webinar series, Malasian Palm Oil Council had organised a webinar to decode ‘Palm Oil in the Post-Pandemic Market’.

The panellists were Sudhakar Desai, IVPA; Ooi Liang Hin, KLK Berhad and Jose Angel Olivero Garcia, Lipidos Santiga SA (LIPSA). The show was moderated by Dr.Kalyana Sundram, MPOC.

Dr Kalyana Sundram began his speech with a short presentation which covered the impact of the pandemic. He observed Covid-19 had disrupted global economic, social and financial structure.

All major commodities and exchanges have registered steep declines. Prices of all major edible oil has been hammered. The dramatic downward spiral in Brent crude oil has also been a factor. Demand for oil and fats in HORECA and Bio-diesel has plummeted.

He also did price comparison of edible oil between January 2020 and May 2020. Export summary of regions across the world between January and May 2020 was displayed.

The Indian sub-continent showed the steepest decline due to sharp decline of exports to India. Presentation also included top Malaysian palm oil export destinations.

https://newstodaynet.com/index.php/2020/06/18/status-of-palm-oil-in-post-pandemic-market/