The apex edible oil industry associations from five major palm oil importing countries of Asia -- India, Pakistan, Sri Lanka, Bangladesh and Nepal -- have come together to form the Asian Palm Oil Alliance (APOA), at the instance of Solidaridad Network, a specialist in sustainable agriculture.
APOA was launched during the Globoil Summit at Agra on September 21, 2022.
The first general body meeting of the Alliance elected Atul Chaturvedi, Director of Adani Wilmar Ltd and President of SEA, as the first Chairman. The website and logo of the APOA were also launched on the occasion. The APOA secretariat would initially be managed by the Solvent Extractors’ Association of India (SEA).
Atul Chaturvedi said the formation of APOA empowers several Asian countries, for whom palm oil is a source of affordable food and nutrition.
APOA is expected to safeguard the economic and business interests of the palm-oil consuming countries and create a level-playing field for all fats and oils used in food, feed and oleo-chemicals in Asia. It will further work towards increasing the consumption of sustainable palm oil in member countries, he said.
India major consumer : B.V. Mehta, Executive Director of SEA, said the Asian markets are responsible for about 40 per cent of global demand. Europe accounts for about 12 per cent of the market, and the US for 2 per cent.
He said India is the largest importer of palm oil in the Asian region and accounts for 15 per cent of global imports. China with 9 per cent, Pakistan with 4 per cent, and Bangladesh with 2 per cent of global imports are the other significant countries with a stake in palm oil production and trade.
Source : The Hindu Businessline
