The future is looking good between Malaysia and Philippines in terms of the Oil and fats industry.
Palm Oil Trade Fairs and Seminar (POTS) series is an important event among the Malaysian palm oil industry fraternity in forging successful business relations in the oils and fats trade. The 2-day seminar opened today at Makati Shangri-La Hotel.
Recognising the importance of Philippines as a trade partner and important user of Malaysian palm oil, POTS Philippines 2015 is organised to bringing together reputable Malaysian palm oil industry players to meet with existing and potential users of palm oil in Philippines from various sectors with the aim of developing long and successful business relations.
Themed ‘Enhancing Philippines’ Oils and Fats Needs through Malaysian Palm Oil,’ this event aspires to establish and continue to compliment the Philippines’ growing oils and fats needs, stemming from the country’s rapid economic growth.
The speakers of this event are prominent local industry captains and international experts from Malaysia, Europe and The Philippines. The papers cover topics on current issues and development in the palm oil industry, palm oil applications and nutrition, and market update and prove forecast. A half-day forum focusing on growth and investment opportunities through palm oil plantation is organised on 7 August for Malaysian and the Philippines industry experts to deliberate on the opportunities and challenges for oil palm plantation in the Philippines, strategic investment and collaboration between Malaysia and the Philippines.
In the keynote address read by Dato’ Ar. Wan Mohammad Khair-il Anuar Wan Ahmad, Chairman of Malaysian Palm Oil Board (MPOB), on behalf of the Minister, he said that palm oil is the major oil consumed in the Philippines, followed by the locally produced coconut oil, accounting 54% of total usage of all oils and fats. Malaysia has exported about 494,000 tonnes of palm oil to the Philippines in 2014, where 434,000 tonnes of the export was dominated by RBD palm olein. Other palm products exported to Philippines include palm kernel oil, oleochemicals and finished products such as shortenings and vegetable fats.
Commenting on the event, Dato’ Wan Mohammad Khair-il Anuar said, “POTS Philippines is designed to bolster business ties between our two countries.” He hoped that that POTS Philippines 2015 will widen the collaborations between Malaysian and Philippines oils and fats industry players. “I would like to encourage Philippines businessmen to venture into projects in the identified new areas within the palm oil sectors in Malaysia,” he added.
Malaysia-Philippines POTS is the 35th of its series since its introduction in 2006. This event is jointly organised by Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Board (MPOB) is the second event organised in the Philippines. The first Malaysia-Philippines POTS was organised in 2012.