5 Asian countries form Palm oil alliance
23 Sep 2022 14:45:44
New Delhi, Sept 23: At the initiative of the global sustainable agriculture specialist organization Solidaridad Network, the apex edible oil industry associations from five major palm oil importing countries from Asia have come together for the first time to form an Asian Palm Oil Alliance (APOA).
The APOA alliance is initiated by the apex solvent extractors associations of India, Pakistan, Sri Lanka, Bangladesh, and Nepal. In the coming year, the membership would be further expanded to include other select companies or industry organizations operating in Asia's production and/or refining of palm oil.
“The APOA secretariat would be initially managed by The Solvent Extractors’ Association (SEA) of India. In the first General Body Meeting of the APOA, Atul Chaturvedi, Director of Adani Wilmar Ltd and the President of SEA, was elected as the first Chairman of the APOA,” said APOA in a release. “The APOA secretariat would be initially managed by The Solvent Extractors’ Association (SEA) of India. In the first General Body Meeting of the APOA, Atul Chaturvedi, Director of Adani Wilmar Ltd and the President of SEA, was elected as the first Chairman of the APOA,” said APOA in a release. .V. Mehta, executive director, SEA pointed out that together, the Asian markets are responsible for about 40% of global demand. “Europe accounts for about 12% of the market, and the US for 2%. India is the largest importer of Palm oil in the Asian region and accounts for 15% of global imports. China with 9%, Pakistan with 4%, and Bangladesh with 2% of the global imports are the other significant countries with a stake in palm oil production and trade. However, the industry associations of Asian palm-oil importing countries, unlike their counterparts in the EU, are not involved in shaping the global discourse on sustainable palm oil in a collective way. Asian stakeholders over the last two decades were instead forced to follow sustainability standards that don’t reflect the Asian market realities. The launch of APOA is expected to bridge this gap and help develop a shared, collective, coordinated, and coherent position of the Asian palm oil industry stakeholders,” said Mehta. Dr. Shatadru Chattopadhayay, Managing Director of Solidaridad for Asia, said: “We are happy to be the neutral convenor of all significant Asian solvent extractors association. In the coming years, we believe APOA will emerge as one of the most vital forums to address common problems, interests, and aspirations of the global palm oil industry. In the decades to come, the rising wealth of Asia will further boost the regional demand for palm oil. We expect APOA would be soon joined by palm oil-producing countries from Indonesia, Malaysia, and Thailand. We are pleased to have the opportunity to support this initiative and look forward to achieving many milestones together”.
Kazi Salahuddin Ahammad, Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association said, “Asia has a key role to play in sustainable palm oil thus the creation of APOA will support and accelerate the transition towards a sustainable and inclusive palm oil industry in Asia. This would foster Asia’s position as a sustainability leader.”