Romanian gateway for Malaysian palm oil

BUCHAREST: Romania is set to become the gateway for Malaysian palm oil to penetrate East European markets.

Plantation
Industries and Commodities Minister Tan Sri Bernard Dompok said Romania
had the potential to become the ideal gateway for Malaysian palm oil
given its ideal location and port facilities.

He said this would
allow further down streaming of palm oil products and exports to
Bulgaria, Hungary, Moldova, Serbia and Ukraine.

"Romania is a
key emerging market for oils and fats including palm oil. We believe
the level of palm oil awareness can be expanded in this country," he
told Bernama.

He added that oils and fats consumption patterns
in Romania indicated a healthy growth over the past four years
including the growing appetite for palm oil.

Dompok, who is
currently leading an eight-day palm oil promotion mission to France and
Romania, said this region has shown clear signs of having weathered the
economic downturn with export figures registering a gradual rebound
after having declined earlier in response to falling demand from
Western Europe.

"With a total population of more than 292
million, Eastern Europe is seen as a pivotal stepping stone for
Malaysian palm oil to further strengthen its market access," he said.

Members
of the Malaysian delegation on the mission include Malaysian Palm Oil
Council Chairman Datuk Lee Yeow Chor, its Chief Executive Officer Tan
Sri Dr Yusof Basiron and Malaysian Palm Oil Board Director-General
Datuk Dr Choo Yuen May.

Meanwhile, Lee said Romania was no longer a net exporter of oils and fats, unlike during the earlier years.

He said the demand for oils and fats, the past three years, surpassed local production capacity.

"Romania
is unique as it is the only country in Europe where palm olein, which
is available in consumer packs, is distributed in major hypermarkets.

"The
demand is still growing," he said, adding that total vegetable oils
production in Romania was about 350,000 tonnes per year, of which about
six per cent was utilised for non-food purposes.

"The industry
developed rapidly in the past few years, driven by the entrance of
large international players, especially from the United States, which
currently accounted for more than two-thirds of the country's
production of edible oil," he said.

Romania's domestic edible oil market was estimated at 350 million euros.

Dompok said palm oil continued to feature strongly as a major food commodity and one that was highly affordable to the masses.

"Malaysian
palm oil is also proud to be associated with certified sustainable palm
oil, through the long association of our major producers with the
Roundtable on Sustainable Palm Oil.

"This certification process
using credible global standards and through engagement with
multi-stakeholders proves that Malaysia is very much concerned about
the pressing global call for sustainably-produced palm oil," he said.

-- BERNAMA