MPOC bags RM182 mil potential sales during African buyers' visit
25/10/2023 (The Edge Malaysia), Kuala Lumpur - The Malaysian Palm Oil Council (MPOC) has bagged total estimated potential sales of RM182 million during a visit by several African oils and fats companies recently.
MPOC chief executive officer Belvinder Sron said that via 112 meetings held with delegations from seven African countries, buyers had sourced products such as crude palm oil, refined bleached deodorised palm olein, both in consumer pack and bulk container, cooking oil, shortening, specialty fats, oleochemical products and palm wax.
She said Malaysian palm oil producers and palm oil product manufacturers were appreciative of MPOC’s efforts in bringing key industry members from important African markets.
"The industry members also commended the variety in the African buyers’ composition as there was interest in sourcing both bulk and packed products,” she said in a statement on Wednesday.
The 'Trade and Networking Visit for African Buyers' was organised by MPOC to reinforce the global expansion of Malaysian palm oil, one of the nation’s key export commodities.
According to the statement, the Sub-Saharan African region, primarily represented by the delegates, heavily relies on palm oil as a key feedstock for the edible oil industry, accounting for 66% of total oils and fats consumption in 2022 — the growing demand in the region opens substantial opportunities for Malaysian exports.
In 2022, Malaysian palm oil exports to the Sub-Saharan region comprised 14.8% of the country’s total palm oil exports, amounting to 2.3 million tonnes.
Following the positive result of the initiative, MPOC has received additional requests from members of the industry to conduct similar programmes for markets in the Middle East, Asean and North African regions.
"This edition has proven to be a success due to the cooperation and strong support of the Malaysian palm oil industry players, and I urge that more industry members take part in the upcoming ‘Trade and Networking’ editions.
"It is important that we strengthen our efforts of promoting sustainable Malaysian palm oil to the world and untapped markets that are out there,” said Sron.