The apex edible oil industry associations from five major palm oil importing countries from Asia have joined hands for the first time to form an Asian Palm Oil Alliance (APOA). This is an important development in international affairs and is relevant for the UPSC economy as well as international relations segments.
This article gives details about the Asian Palm Oil Alliance (APOA) within the context of the IAS Exam.
Asian Palm Oil Alliance
The Asian Palm Oil Alliance (APOA) is initiated by the Apex Solvent Extractors association of five South-Asian countries – India, Bangladesh, Nepal, Pakistan and Sri Lanka.
- APOA was launched during the Globoil Summit at Agra in September 2022.
- The membership of APOA would be further expanded to include industries/companies involved with the production or refining of palm oil across the continent.
- The APOA Secretariat would be initially managed by the Solvent Extractors Association (SEA) of India.Â
- In its first general body meeting, Atul Chaturvedi, Director of Adani Wilmar Ltd and the President of SEA was elected as the first chairman of the APOA.
- The next meeting of APOA is expected to be held in Indonesia early next year (2023).
Asian Palm Oil Alliance Objectives
The association 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 also work to increase the consumption of sustainable palm oil in member countries.
- One of the main objectives behind the formation of APOA is to increase the bargaining power of palm oil importing countries and to maintain imports.
- This alliance will work towards ensuring that palm oil is recognized as high-quality, economical and healthy vegetable oil and to reverse the negative image of palm oil.
- The formation of APOA empowers several Asian countries for whom palm oil is a source of affordable food and nutrition.Â
- APOA is expected to emerge as one of the most vital forums to address common problems, interests and aspirations of the global palm oil industry.
- Indonesia and Malaysia together account for almost 90% of global palm oil production. Around 8 MT of palm oil is imported from Indonesia and Malaysia while other oils like soya and sunflower come from Argentina, Ukraine, Brazil and Russia.
- Asia accounts for around 40% of the global palm oil consumption while Europe accounts for 12% of the palm oil trade.
- India is the largest importer of palm oil in the Asian region and accounts for 15% of global imports followed by China – 9%, Pakistan – 4% and Bangladesh – 2%
About Palm Oil
- Palm oil is derived from the oil palm tree which is native to West Africa and grows best in tropical climates with abundant water.
- It is an edible vegetable oil derived from the mesocarp (reddish pulp) of the fruit of oil plants.
- It is used in food, beauty products and as a biofuel.
- It is resistant to oxidation and therefore gives products longer shelf life.
Asian Palm Oil Alliance (APOA):- Download PDF Here
| Related Links | |||
| National Mission on Edible Oil-Oil Palm (NMEO-OP) | Global Report on Food Crises | ||
| National Food Security Act, 2013 (NFSA) | Digital India | ||
| Puttaswamy Case | Zero Hunger Programme | ||
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