There has been a rising consumption of palm oil in Ghana, leading to increase in importation of the oil into the country.
Palm oil imports into Ghana increased from 163,000 tonnes in 2015 to 203,000 tonnes in 2016, an increase of about 23.9 per cent.
Within the first nine months of this year, Malaysian palm oil imports into Ghana totaled 213,000 tonnes.
The Chairman of Malaysia Palm Oil Council (MPOC), Mr Dato Lee Yeow Chor, stated that at the launch of Malaysia–Ghana Palm Oil Trade fair and Seminar (POTS) 2017 in Accra.
Event
The seminar, organised by MPOC in collaboration with Malaysian Palm Oil Board (MPOB) with support from the Association of Ghana Industries (AGI), was also to discuss the importance of strategic collaboration among industry members in the palm oil market.
Themed: ‘Creating mutual partnership, optimising and expanding palm oil opportunities in West Africa,’ the maiden edition of the event attracted over 300 participants from both Ghana and Malaysia.
Discussants covered topics on oils and fats ranging from market outlook and trade to oil palm planting and logistics situation in Africa.
Ghana is said to be one of Malaysia’s trading partners in the region. The total trade registered between the two countries was US$337 million in 2016.
About US$140 million has already been recorded within the third-quarter of 2017 from the importation of oil into the country.
Significance
According to Mr Chor, the event is part of efforts to strengthen the existing diplomatic relationship between Ghana and Malaysia, particularly in trade and investment.
All indicators, he said, showed that Ghana was poised to grow in consumption and importation of oils and fats, so strengthening Malaysia palm oil industry to become a partner in Ghana’s oils and fats industry was a step in the right direction.
He said it was necessary to realise the full potential of palm oil as a nutritious and cost competitive vegetable oil.
Mr Chor said Malaysia considered West African markets as important destinations for Malaysian palm oil.
“In recent years, there has been a significant upward trend of Malaysian palm oil exports into this region. Last year, Malaysia exported about one million tonnes of palm oils to all countries in the West African region,” he added.
An expert in palm oil, Dr James Fry, observed that statistics in Africa were not always reliable due to inadequate records.
Malaysia palm oil industry
The plantation industry, in particular palm oil, is one of the main pillars of Malaysia’s economy. The palm oil sector has contributed significantly towards providing a continuous inflow of export earnings through the export of raw commodity and value-added products to the global market.
In 2016, palm oil contributed significantly in export earnings for Malaysia, accounting for 33 per cent of the world’s palm oil production and 39 per cent of total palm oil exports.
Source: Daily Graphic
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WA OOOH THIS IS A BIG SHAME AND DISGRACE TO GHANAIANS INCLUDING ME .. HOW CAN WE IMPORT COMMON PALM OIL TO GHANA .. WHAT IS GOING ON.. WHY CAN'T GOVERNMENT EDUCATE THE PUBLIC THAT OUR COUNTRY IS IN NEED OF PALM OIL SO PEOPLE SHOULD WORK AND INVEST IN PALM OIL PRODUCTION .. GOVERNMENT HAVE TO EDUCATE THE PUBLIC ABOUT THINGS LIKE THIS. TOO BAD
I have a 10-acre palm plantation and I have been taking a good care of it. however, the farm is only 3 years old but I have started harvesting and churning out palm oil. I will advise those commentators on this page to start being productive and get into farming. the npp government is really on the side of farmers in the country. the ndc guys nearly destroyed farming in the country, either intentionally or out of plain ***barred word***-i-t-y
With all the good agriculture land we have in Ghana? This too bad, government should wake up and make good use of the national service personals. its a shame
No, no , no, it's a very bad assessment of fact? We bow to old traditions of felling too many palm trees for palmwine and akpeteshie. I have seen so many good plantations deplete everywhere without any possibility of rejuvenation. And also old trees that aren't anymore productive aren't replaced with new palm plants. The question is, what can we do better at all in Ghana, in exception of too much talk, hypocritical church activity and crusades, excessive adultery, dirty politics and corruption?
Miki,I agree with you. What a shame are we serious? Malaysia and China are brothers and we allow Chinese to destroy our lands only to import palm oil from Malaysia are we stup*d or what ? You kidding me! Malaysia got palm fruits from Ghana into their country and they are supplying us with palm oil are we lazy or damn fo*ls? Ndc is not good for Ghana,ndc is an enemy of Ghana,ndc is a destroyer of Ghana, ndc hate Ghana, ndc nation wreckers God Don punish them all. They should be in opposition forever and ever. They damn sens*less human species they don't know anything about governance except to ste*l,create l00t and share.May God curse that party to stay in opposition never to come near the seat of Ghana's government.
What a shame.... Are we serious human beings???