MANILA: Malaysia’s palm oil can help complement the oil and fats needs of the Philippines, says Minister of Plantation Industries and Commodities, Datuk Amar Douglas Uggah Embas.
He said the destruction of three million coconut trees in the recent typhoon disaster had disrupted the supply of coconut oil which is the main source of oils and fats for the country.
“The continuous availability of palm oil as a perennial crop has also the enormous potential of alleviating global food shortages at a lower cost and higher yield.
“Its indisputable beneficial health properties provide an added value,” he said in his keynote address at the Palm Oil Trade Fair and Seminar Philippines (POTS Philippines 2015) yesterday.
The text of his speech was read by Malaysian Palm Oil Board (MPOB) Chairman, Datuk Ar Wan Mohammad Khair-il Anuar Wan Ahmad. Uggah said the large, young base from among the 100 million population of the Philippines, provided momentum for the country’s economic growth and productivity.
At the same time, he added, it created higher consumer demand, including that for oils and fats.
“This has resulted in palm oil being the main major oil to be consumed in the Philippines, followed by the locally produced coconut oil, and accounting for 54 per cent of total usage of all oils and fats. In terms of palm oil, Malaysia exported about 494,000 metric tonnes to the Philippines in 2014.
“Of this, refined, bleached and deodorised (RBD) palm olein was the major palm oil product at 434,000 metric tonnes, signifying growth in the food sector and household consumers’ sector,” Uggah said.
He said other palm products exported to the Philippines include palm kernel oil, oleochemicals and finished products such as shortenings and vegetable fats.
Meanwhile, commenting on the POTS Philippines 2015, Wan Mohammad Khair-il Anuar said it was aimed at bolstering business ties between both countries and widen collaboration among the oils and fats industry players.
He said the event had brought together reputable Malaysian palm oil industry players, to meet with existing and potential users of palm oil in the Philippines from various sectors, with the aim of developing long and successful business relations.
“I would like to encourage Filipino businessmen to venture into projects in newly identified areas within the palm oil sector in Malaysia,” he added.
Themed, “Enhancing Philippines’ Oils and Fats Needs through Malaysian Palm Oil”, the POTS Philippines 2015 is jointly organised by the Malaysian Palm Oil Council (MPOC) and MPOB.
The two-day event, from yesterday, is the second time being held in the Philippines after 2012.
The palm oil industry in Malaysia is the fourth largest component of the national economy at present, providing direct employment to more than 600,000 people, including about 300,000 smallholders.
Last year, Malaysia had a total planted area of 5.39 million hectares, producing 19.67 million tonnes of palm oil and exported 17.31 million tonnes, while generating US$13.09 billion in export earnings. — Bernama