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    BREAKING NEWS
    Dangote Industries to take Advantage of Africa Continental Free Trade Area, Leverage Expansion and New Trade Routes
    Ethiopia’s National Telecommunication – Ethio Telecom Disclosed Proposals to Venture in the Financial Realm
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    Congo Airways orders more Embraer E195-52 Jets six months after their first E2 order
    Increased in Exports Grow Tanzania’s Economy- Report
    The Vow of the African Continental Free Trade Area as a way to fill out the World Trade Organization (WTO) instead of an Alternative
    African Export-Import Bank, Africa Development Bank, and FCI Launch Grant to Support  Firms in Africa
    African Development Bank Board of Directors Recommends Gender Strategy for 2021- 2025 “Investing in Africa’s Women to Accelerate Inclusive Growth
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    Dangote Cement and Job Creation

    Africa and Central Asia Exemplifies key Development Tracts for the Improvement of Palm Oil Enterprises, as both propose Outstanding Alternatives for Local Players and Investors, assert Palm Oil Experts

    Posted On 18 Dec 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Abdul Rahman Bangura–

    Photo Credit: Deposit photos

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Talking at the virtual “Future Proof Palm Oil” forum, Hisamuddin Mohamad Aspar, Regional Manager of product development for Central Asia at the Malaysian Palm Oil Board, explained that with most regions banking on imported oil and fats, this was a key opportunity for Malaysian suppliers. He announced that over 2.3 million tones of oil and fat were imported yearly to Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan) and Iran, much of which is sunflower oil, which presents plenty of room for palm oil to thrive its market percentage.

    “Palm oil market share in the region is still low at below 7%, and there is room for expansion particularly in the production of solid fats and blended cooking oils,” he said, noting also that the emergence of fast food chains in the region will likely spur the demand of vegetable oils.

    As for Africa, Fatima Alimohamed – Chairperson of the Agribusiness Sector of the Association of Ghana Industries, noted the new African Continental Free Trade Area creates a “borderless” continent, which she accepts Malaysian palm oil companies would be wise to capitalize on through trade agreements.

    “This image that Africa is poor, that we continue to have a bowl in our hands, that has changed now,” she said, adding that also to a rapidly growing economy, the continent has an abundance of resources and a large workforce that companies can capitalize on through the setting up of plantations or refineries.

    “I don’t believe discussions have started in terms of preferential agreements that can be done between Asia and respective governments in Africa” she explained, “but now there are discussions that should be taking place at the top level to see how we can collaborate and be partners”.

    When entering new markets, Marco Tieman – Founder and CEO of Supply Chain experts LBB International told me, assuring halal compliance throughout the process was a must, from harvesting to manufacturing and distribution.

    “As halal is moving from a product to a supply chain approach, it is becoming very complex to manage without the right ecosystem in place.”

    He meant that new global norms that have been ascertained are a “game-changer” as it covers the entire supply chain and offers a guide to help palm oil companies maintain halal compliance from crop to consumer.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    14 Comments

    1. Kujoe December 18, 2020 at 2:03 am Reply

      Agribusines is the way to go. Our governments should invest more money on Agribusines. Accra Ghana. Kujoe

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:04 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Charles December 18, 2020 at 2:08 am Reply

      Agriculture is the key word, here. He who feed you control you. Wake up governments in Africa. British Columbia. Canada. Charles

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:09 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Melvin December 18, 2020 at 2:13 am Reply

      Thank you for the report. Our governments and our People need to stop selling lands to foreigners, AKA non Africans and international corporations. Lusaka Zambia. Melvin

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:14 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Johan December 18, 2020 at 2:21 am Reply

      Thank you for the Face book, reports. Our governments, all over Africa, need to pass strict land laws, for non Africans. Worcester South Africa. Johan

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:22 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Kim December 18, 2020 at 2:26 am Reply

      Laws in our great Continent should specifically state Non Citizens can’t by land in Africa. Luganda Angola. Kim

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Omel December 18, 2020 at 2:31 am Reply

      If are not African, you should not be allowed to buy land in the Continent. Lilongwe. Omel

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:32 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Felix December 18, 2020 at 2:34 am Reply

      Love your reports and thank you for the newsletters. Monrovia Liberia. Felix

      • New Africa Business News, Staff Correspondent December 18, 2020 at 2:35 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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