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Asian Palm Oil Alliance (APOA)

Posted on September 24, 2022 by admin1  66

In News 

  • 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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