From Mohd Iswandi Kasan Anuar
TEHRAN, Jan 21 (Bernama) -- Global demand for palm oil and palm oil-derived products remain intact as the market around the world has become increasingly dependent towards the valuable agricultural crop, Malaysian Palm Oil Board Director-General Datuk Dr Choo Yuen May said Tuesday.
She said the palm oil price was always at a discount to other soft oils in the world market which makes it more competitive.
"Latest data indicated that palm oil is the answer in fulfilling the world's increasing oils and fats demand," she told Bernama.
Currently, palm oil and palm kernel oil account for 63 per cent of world exports of all 17 major oils and fats, compared with 53 per cent 10 years ago.
Choo said the strong move towards implementation of the biodiesel in Malaysia and Indonesia will influence the price and the supply-demand situation of palm oil.
Palm oil would always provide ample supply of raw materials because of its high productivity, making it the answer to the world's requirement for oils and fats, she said.
The prices have also strengthened since September 2013 on declining stocks and lower-than-expected production, resulting in a narrowing of the price discounts vis-a-vis soy oil and other oils and fats, she said.
Choo said there was now increasing awareness and acceptance on the advantages of palm oil from the health perspective.
"The nutritional benefits of palm oil, which has similar effects as olive oil blood lipids has attracted consumers," she said.
Palm oil is a powerhouse of phytonutrients -- natural chemicals that are found in a variety of plant foods -- with potent bio-activities.
Choo said Malaysia has successfully expanded the utilisation and application of palm oil products in food as well as the non-food sector covering the oleochemical, biomass and biofuel industry.
"There's a lot of research and development activities on palm oil that has been carried out by the Malaysian Palm Oil Board for the benefit of consumer countries like Pakistan and Iran," she said.
Malaysian Palm Oil Board and Malaysian Palm Oil Council are organising Palm Oil Trade Fair and Seminar in both Pakistan and Iran currently as part of the Plantation Industries and Commodities Ministry working visit led by the minister Datuk Amar Douglas Uggah Embas from Jan 14 till tomorrow.
Uggah is accompanied by the ministry's deputy secretary-general (Plantations and Commodities) M. Nagarajan, Malaysian Palm Oil Council (MPOC) Chairman Datuk Lee Yeow Chor and MPOC Chief Executive Officer Tan Sri Dr Yusof Basiron.
-- BERNAMA
TEHRAN, Jan 21 (Bernama) -- Global demand for palm oil and palm oil-derived products remain intact as the market around the world has become increasingly dependent towards the valuable agricultural crop, Malaysian Palm Oil Board Director-General Datuk Dr Choo Yuen May said Tuesday.
She said the palm oil price was always at a discount to other soft oils in the world market which makes it more competitive.
"Latest data indicated that palm oil is the answer in fulfilling the world's increasing oils and fats demand," she told Bernama.
Currently, palm oil and palm kernel oil account for 63 per cent of world exports of all 17 major oils and fats, compared with 53 per cent 10 years ago.
Choo said the strong move towards implementation of the biodiesel in Malaysia and Indonesia will influence the price and the supply-demand situation of palm oil.
Palm oil would always provide ample supply of raw materials because of its high productivity, making it the answer to the world's requirement for oils and fats, she said.
The prices have also strengthened since September 2013 on declining stocks and lower-than-expected production, resulting in a narrowing of the price discounts vis-a-vis soy oil and other oils and fats, she said.
Choo said there was now increasing awareness and acceptance on the advantages of palm oil from the health perspective.
"The nutritional benefits of palm oil, which has similar effects as olive oil blood lipids has attracted consumers," she said.
Palm oil is a powerhouse of phytonutrients -- natural chemicals that are found in a variety of plant foods -- with potent bio-activities.
Choo said Malaysia has successfully expanded the utilisation and application of palm oil products in food as well as the non-food sector covering the oleochemical, biomass and biofuel industry.
"There's a lot of research and development activities on palm oil that has been carried out by the Malaysian Palm Oil Board for the benefit of consumer countries like Pakistan and Iran," she said.
Malaysian Palm Oil Board and Malaysian Palm Oil Council are organising Palm Oil Trade Fair and Seminar in both Pakistan and Iran currently as part of the Plantation Industries and Commodities Ministry working visit led by the minister Datuk Amar Douglas Uggah Embas from Jan 14 till tomorrow.
Uggah is accompanied by the ministry's deputy secretary-general (Plantations and Commodities) M. Nagarajan, Malaysian Palm Oil Council (MPOC) Chairman Datuk Lee Yeow Chor and MPOC Chief Executive Officer Tan Sri Dr Yusof Basiron.
-- BERNAMA
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