Asian Palm Oil Alliance (APOA)

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Asian Palm Oil Alliance (APOA)was launched during the Globoil Summit at Agra on September 21.

About Asian Palm Oil Alliance (APOA)

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 APOA.
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.

Palm oil

It’s an edible vegetable oil that comes from the fruit of oil palm trees, having the scientific name Elaeis guineensis.
It is a very productive crop. It offers a far greater yield at a lower cost of production than other vegetable oils.
Related Initiative: The Government has been implementing a Centrally Sponsored Scheme viz., National Food Security Mission- Oilseeds & Oil palm (NFSM-OS&OP) from 2018-19 to augment the availability of edible oils by increasing the production and productivity of nine oilseed crops and area expansion under Oil Palm & Tree Borne Oilseeds in the country.

Do You Know ?

Asia accounts for around 40% of the global palm oil consumption while Europe accounts for 12% of palm oil trade. Indonesia and Malaysia are the biggest palm oil exporters in the world.
India is the largest importer of palm oil in Asia, accounting for 15% of global imports, followed by China (9%), Pakistan (4%) and Bangladesh (2%).

Source:FE

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