Indian IVPA & Malaysian MPOC signed MoU to promote Palm oil use.
The Indian Vegetable Oil Producers’ Association (IVPA) and the Malaysian Palm Oil Council (MPOC) have signed a memorandum of understanding (MoU) to strengthen their collaboration in promoting palm oil use.
The MoU is expected to broaden cooperation in mutually beneficial areas, such as promoting the development and use of Malaysian palm oil and MSPO-certified palm oil.
It would promote the interests of producers, processors, users, and consumers through product and market development assistance, as well as joint activities, according to a statement.
MPOC has worked with IVPA to increase the acceptance of Malaysian palm oil among Indian consumers, food manufacturers, and other end users.
The MoU also aims to raise awareness of Malaysian palm oil, as measured by the Malaysian Sustainability Palm Oil (MSPO) certification standards, the goals of which include demonstrating sustainable practices in the Malaysian palm oil industry.
The agreement aims to educate Indian consumers about the nutritional and health benefits of palm oil, as well as to improve the overall understanding of palm oil and its applications by elucidating its strengths and benefits.
Improving Trade Opportunities
It also intends to improve market trade opportunities by identifying, sharing, and highlighting the most recent opportunities for Malaysian palm oil in India via MSPO.
The agreement aims to familiarise the Indian palm oil processing sector with the most recent business and technological developments in the Malaysian palm oil industry and its research bodies.
The agreement will promote the exchange of data on palm and edible oils and fats business, as well as technical, policy, and administrative information.
According to the statement, MPOC will promote ‘Aatmanirbhar Bharat’ by assisting the Indian palm oil industry in obtaining technical know-how.
The areas of cooperation include the formation of an expert panel to aid the development of India’s palm oil industry by providing information and expertise on cutting-edge technology applications for both upstream and downstream adoption.
The IVPA and MPOC agreed to invite delegations for information exchange and to establish platforms for supplier and buyer meetings for trade promotion and development.
The MoU was signed on July 28 in Kuala Lumpur by Wan Aishah Wan Hamid, CEO of MPOC, and Sudhakar Desai, President of IVPA. Zuraida Binti Kamaruddin, Malaysia’s Minister of Plantation Industries and Commodities, was in attendance.