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Apical worked with the Embassy of the Republic of Indonesia Islamabad, Pakistan to jointly and successfully organise a palm oil seminar in Karachi on 15 Feb 2020. Themed “Health, Nutritional Benefits, and Potential Profitability of Palm Oil”, the seminar attracted over 160 representatives from the industry, from C-level to middle management executives. Sectors represented were retail, trade, health, education, media, government and the commercial sector.
Palm Oil’s Health, Nutritional Benefits, and Profitability
The seminar recognised Indonesia as one of the global pillars for palm oil exports, and Pakistan as a key contributor to the growth of the food industry. Iwan Suyudhie Amri, Indonesian Ambassador to Pakistan, expressed hope that both countries continue contributing to the success and sustainability of the Indonesian-Pakistan palm oil trade.
There were keynotes as well as a panel discussion involving national and international industry experts, who provided views and analyses on the palm oil industry and its potential. Among the guests-of-honour were Pakistan’s Advisor to the Federal Ministry of Maritime Affairs (Ports & Shipping) Mahmood Baqi Moulvi, Chairman of the Karachi Association of Trade and Industries Umer Rehan, and Consul General of the Indonesian Consulate in Karachi Totok Prianamto.
In one of many insights shared at the seminar, Pakistan’s palm oil derivative sector has created 58,000 jobs and contributed USD 654 million in national tax revenue. As of 2019, Indonesia has an 80 percent market share in palm oil in Pakistan.
The seminar also covered programmes and measures taken in the palm oil value chain to contribute greatly to strengthening sustainable palm oil operations.
Joint Ventures in Pakistan
In 2017, Apical established two joint ventures respectively with the Mujahid Group and MM Group of Companies in Pakistan. These were part of wider bilateral trade cooperation between Indonesia and Pakistan, which till today continuously seeks to enhance commercial relations and expand trade commitments between both nations.
Operational in 2018, the joint venture with Mujahid Group is focussed on ex-tank sales of palm oil products locally. With a total investment of USD 10 million, the joint venture with MM Group of Companies – the Apical Oil Terminal – includes a 36,000-tonne tank terminal. Located at Port Qasim, Karachi, the operations are expected to be operational by end of March 2020.
Working Together to Raise Palm Oil’s Profile and Benefits
Since its establishment in 2018, Apical’s Pakistan office has worked very closely with the local government and the Indonesian ambassador to help enhance cooperation and deliver mutually beneficial outcomes in palm oil imports. In that year alone, the Apical office in Pakistan helped arranged a seminar, organised a conference and even produced a documentary – some of many efforts to raise the profile and benefits of palm oil.
The improved national discourse on palm oil, buttressed by continuous exchange of fact and science-based information, has contributed to informing policies on public health and trade. In 2019, the Government of Pakistan reversed its 2017 decision to ban palm oil-derived banaspati ghee (or vanaspati ghee).
Pakistan is the world’s third largest importer of palm oil at 3.2 million tonnes per annum, after China and India. Having built up a good reputation of a trusted and reliable company in Pakistan, Apical is the second largest shipper of palm oil to the South Asian nation.
As one of Asia’s leading producers and exporters of palm oil, Apical continues to expand with strategic partnerships and joint ventures to bring derivatives of the highly productive crop to all economies.
Caught up on the Apical’s milestones and achievements in recent years?
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- Apical Increases Palm Oil Production Capacity with KRN Acquisition
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