KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) managed to secure 112 meetings with a total estimated potential sales of US$38 million (RM182 million) at the Business Matching (BizMatch) session held as part of the Trade and Networking Visit for African Buyers programme.
MPOC chief executive officer Belvinder Sron said among the products sourced by the buyers were crude palm oil, refined bleached deodorised (RBD) palm olein both in consumer packs and bulk containers, cooking oil, shortening, specialty fat, oleochemical products, and palm wax.
"Malaysian palm oil producers and palm oil product manufacturers were appreciative of MPOC's efforts in bringing key industry members from important African markets.
"The industry members also commended the variety in the African buyers' composition, as there was interest in sourcing both bulk and packed products," she added.
Following the positive result of the trade and networking visit for African buyers, MPOC has received additional requests from industry members to conduct similar programmes for markets in the Middle East, Asean, and North African regions.
Three such events have been organised in 2023, with one previous edition in March bringing Malaysian palm oil industry players to Uzbekistan and Kazakhstan.
Another in June saw the visit of prospective buyers from the Philippines, Vietnam, and Myanmar.
Belvinder emphasised the importance of reaching out to more potential importing regions and countries.
"This edition has proven to be a success due to the cooperation and strong support of the Malaysian palm oil players. I urge more industry members to participate in the coming trade and networking editions.
"It is important that we strengthen our efforts to promote sustainable Malaysian palm oil around the world and the untapped markets out there," she said.
MPOC's Trade and Networking Visit for African Buyers, held from October 16 to 19, 2023, hosted a delegation of 10 prominent industry representatives from oil and fat companies in seven different African countries.
This event facilitated business discussions between the delegates, Malaysian palm oil producers, and industry players.
The sub-Saharan African region, primarily represented by the delegates, heavily relies on palm oil as a key feedstock for the edible oil industry, accounting for 66 per cent of total oil and fat consumption in 2022.
This growing demand in the region opens substantial opportunities for Malaysian exports.
In 2022, Malaysian palm oil exports to the sub-Saharan region constituted 14.8 per cent of total palm oil exports from Malaysia, totalling 2.3 million metric tons.