MALAYSIA-IRAN PALM OIL TRADE FAIR & SEMINAR 2022 TO CEMENT STRONGER RELATIONSHIP BETWEEN MALAYSIAN AND IRANIAN STAKEHOLDERS
1. The Malaysian Minister of Plantation Industries and Commodities, Datuk Hajah Zuraida Kamaruddin, addressed the members of the vegetable oil industry at the Parsian Azadi Hotel, Tehran. The Palm Oil Trade Fair and Seminar (POTS), themed “Complementing Iran’s Oils & Fats Demand with Malaysian Palm Oil”.
2. Datuk Hajah Zuraidah said that Iran edible oil market offers great potential for Malaysian palm oil and palm oil-based products export. Iran was the 8th top importer of Malaysian Palm Oil in 2021, with an increase of 26% from 321,106 tonnes in 2020 to 404,320 tonnes.
3. The total exports of Malaysian palm oil and its downstream derivatives achieved 24.3 million tonnes in 2021. The record high prices of palm oil in 2021 contributed to the increase in exports revenue to RM102 billion, an increase of 40% as compared to RM 73 billion registered in the year 2020. India retained its position as the number one export destination for Malaysian palm oil, with more than 3.5 million tonnes exported. Other prominent destinations for Malaysian palm oil were China, the Netherlands, Turkey, Pakistan, and the Philippines. Malaysian palm oil accounted for 24% of global palm oil production and 31% of world export in 2021.
4. Datuk Hajah Zuraida emphasised that challenges are still looming in the highly valued industry. Limitations among others in the form of non-tariff barriers including market access, discriminatory trade practices and negative perception have recently escalated against the Malaysian palm oil industry that offers a better competitive advantage over other edible oils. She also stressed that her Ministry will continue in its effort to disseminate accurate facts and information to counter the anti-palm oil campaigners and non-governmental organisations (NGO) to disprove the allegations of deforestation associated with the Malaysian palm oil industry.
5. Commenting on the opportunities for the private sector between Iran and Malaysia, Datuk Hajah Zuraida urged both parties to redefine the business approaches to form partnerships and strategic alliances to explore new avenues for expanding the edible oil and palm oil business in Iran. “I am very optimistic on the prospects of the global oils and fats industry. The global reopening of economic sectors following the Covid-19 pandemic has resulted in strong demand for Malaysian palm oil, including in Iran," she added.
6. Malaysia-Iran POTS 2022 is the 60th of its series since its introduction in 2006. This event is held in Iran for the 3rd time to address the oils and fats trade. Malaysia-Iran POTS 2022 is organised by Malaysian Palm Oil Council (MPOC) with the support from the Iranian Vegetable Oil Industry Association (IVOIA).
MINISTRY OF PLANTATION INDUSTRIES AND COMMODITIES
8 FEBRUARY 2022