Opening of the Vietnam-Malaysia Palm Oil Trade Fair and Workshop

This morning (July 1, 2013), the Vietnam-Malaysia Palm Oil Trade Fair and Conference 2013 (POTS) jointly organized by the Malaysian Palm Oil Council (MPOC) and the Malaysian Palm Oil Board opened in Ho Chi Minh City.

Ms. Nguyen Thi Hong - Vice Chairwoman of Ho Chi Minh City People's Committee spoke

With the theme "Sharing solutions, shaping vision”The event attracted more than 200 delegates from Malaysia and Vietnam to discuss solutions, trends and business opportunities in palm oil products.

Ms. Nguyen Thi Hong - Vice Chairwoman of Ho Chi Minh City People's Committee - said that Ho Chi Minh City has nearly 10 million people, is the economic, cultural and scientific and technological center of Vietnam. Ho Chi Minh City is also the hub for trading goods throughout the country, so the products being traded in this area mean that they will be widely circulated throughout the Vietnamese market.Male. Palm oil products ofMalaysiaThere are many opportunities in this market.

According to MPOC (under the Ministry of Agriculture and Agricultural Products of Malaysia), Vietnam imported 469 thousand tons of palm oil from Malaysia in 2012, an increase of nearly 12% compared to 2011 because palm oil prices from Malaysia were quite competitive and Vietnam had a fairly good economic growth rate. MPOC assessed that VietnamMaleis a large consumer market for palm oil products but has not been properly exploited.

Mr. Dato Sri Douglas Uggah Embas - Minister of Agriculture and Agricultural Products of Malaysia - said that in the first five months of 2013, Vietnam imported 173 thousand tons of palm oil from Malaysia, equivalent to 6.1 billion USD, helping to supplement 54% of Vietnam's demand for oil and fat products.

This is the first time POTS is held in Vietnam, and the 30th time in the world, since the event's inception in 2006.

According to commercial newspaper - PH