Indian and Malaysian bodies signs deal to support palm oil business

The Malaysian Palm Oil Council (MPOC) and the Indian Vegetable Oil Producers’ Association (IVPA) have signed a memorandum of understanding (MoU) to expand their cooperation in promoting the usage of palm oil. The MoU is anticipated to increase collaboration in areas of shared interest and to advance the production and consumption of palm oil from Malaysia and palm oil with the MSPO certification. Through cooperative actions and assistance for product and market development, it would advance the interests of producers, processors, users, and consumers.

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KEY POINTS:

• In order to increase the acceptance of Malaysian palm oil among Indian consumers, food producers, and other end users, MPOC has partnered with IVPA.
• The Malaysian Sustainability Palm Oil (MSPO) certification standards, whose goals include demonstrating sustainability practises in the Malaysian palm oil industry, are used as a benchmark in the MoU’s effort to raise public awareness of Malaysian palm oil.
• The MoU seeks to promote understanding of palm oil and its uses while highlighting its advantages and strengths in order to inform Indian consumers about the nutritional and health benefits of palm oil.
• By locating, disseminating, and emphasising the most recent opportunities through MSPO for Malaysian palm oil in India, it also intends to improve trading opportunities in the market.
• The purpose of the agreement is to introduce the Indian palm oil processing industry to the most recent commercial and technological advancements in the Malaysian palm oil industry and its research institutions.
• Along with technical, policy, and administrative data, the MoU will promote data exchange on palm and edible oil and fat-related enterprises.
• MPOC will support the Indian palm oil industry in acquiring technical know-how in order to advance “Aatmanirbhar Bharat.”

About Indian Vegetable Oil Producers’ Association (IVPA):

The Indian Vegetable Oil Producers’ Association (IVPA), an organisation that represents all parties involved in the edible oil value chain, was established in 1977 and formally incorporated as a non-profit organisation under Section 25 of the Companies Act, 1956, in 1979. The mission of IVPA is to promote excellence, economic growth, and sustainability in India’s edible oil and oilseed value chain. The mission of IVPA is to represent the Indian Oils & Oilseeds Industry Players with Credible Voice. IVPA promotes and offers input for policies that boost economic growth in the nation and raise the value of stakeholders through ongoing investment and innovation, while also maintaining the sustainability of supply chains to deliver safe and healthy goods to the expanding population.

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