Ten industry experts presented during the June 2020 Palm Oil Internet Seminar (POINTERS). They shared insights on the impact of COVID-19 on the oils and fats industry, palm oil demand in major markets, and challenges and opportunities in the industry. The event was sponsored by the Malaysian Palm Oil Council (MPOC) and Bursa Malaysia, the Malaysian stock exchange. The event attracted more than 5,700 registered participants.
MPOC CEO Datuk Dr. Kalyana Sundram started the POINTER series with a session titled, Palm Oil Outlook Post COVID-19 Challenges and Expectations. He discussed the effects of “demand destruction” for oils and fats due to the worldwide lockdown and changing consumption patterns. His graph showed major oil prices movements in 2020. Global oil consumption is down more than 3 percent in 2020 compared with the same period in 2019.
He also shared challenges for the palm oil industry, including misinformation about its nutrition and sustainability.
The other presentations in the series are:
- Crude Oil, Crude Palm Oil (CPO) and COVID-19
- The Global Supply, Demand and Price Outlook in the New Environment
- Coming out of COVID-19 – What is the Agriculture Outlook for 2020 and Beyond?
- Africa’s Growing Market-Potential for Palm Oil
- Malaysian Palm Oil Industry Outlook and Biodiesel Mandates
- EU Market for Palm Oil – Challenges and Opportunities
- Supply & Demand of China Oils & Fats in 2H2020 at the back of Further Recovery of Swine Sector and COVID-19
- Turkey & Middle East & North Africa – Next Growth Frontiers for Palm Oil
- Challenges & Opportunities for the Palm Oil Industry in the areas of Biodiesel, Sustainability & Food Safety.
All of the presentations, as well as sessions from previous POINTERS, can be viewed at http://www.pointers.org.my/.
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