Story by, Nsor Paul Mensah
In a move to strengthen economic ties between Malaysia and Ghana, a networking program was held in Accra-Ghana today 8th November 2024 to promote Malaysian palm oil products and explore opportunities in the West African edible oil market.
The program, which took place in Ghana, featured representatives from three leading Malaysian palm oil companies - KLK, Able Perfect, and Alami Commodities. The companies were seeking to showcase their products and expertise to potential Ghanaian clients and partners.
According to Syed Nauzer Idid, the Deputy High Commissioner Malaysia to Ghana, said the networking event was an important step in facilitating mutual objectives between the two countries. "Ghana is a very important market in this region because of its strategic location and fertile soil suitable for palm oil cultivation," he said.
Malaysia is the world's second-largest producer of palm oil after Indonesia, and the program aimed to leverage this expertise to benefit the Ghanaian market. "We expect that there will be an increase in trade volume between our two countries, so that more Malaysian-manufactured palm oil products will be available in Ghana, whether under Malaysian brands or customized for the local market," Idid added.
The networking event also provided an opportunity for the Malaysian companies to learn about the challenges and importance of the palm oil industry in the African market. With Ghana serving as the secretariat for the African Continental Free Trade Area (AfCFTA), the program is seen as a stepping stone for Malaysian palm oil suppliers to gain better access to the wider African market.
For his part, Theventharan Batumalai, Regional Director Malaysia Palm Oil Council (MPOC) Regional Office Sub-Saharan Africa, noted that West African buyers currently face challenges in finding reliable suppliers of high-quality Malaysian palm oil to meet their growing demand.
To address this, the Malaysian program aims to directly connect West African buyers with Malaysian producers and facilitate one-on-one discussions to help them access the palm oil they need.
Regional Director MPOC emphasized that the palm oil trade is not just about the upstream plantation and milling operations, but also the downstream industries across West Africa that rely on palm oil as a key ingredient. These include cooking oil, personal care products, confectionery, and more. By increasing the supply of Malaysian palm oil to the region, it can help grow these vital domestic industries and provide more affordable products for consumers.
However, He acknowledged concerns around the use of Sudan dye by some local West African producers to artificially redden their palm oil. He stressed that the color alone does not determine the quality or health benefits of palm oil, and urged a change in mindset to focus on the overall quality and sustainability of the product.
the Malaysia-Ghana palm oil networking program represents an effort to deepen economic cooperation and trade between the two countries, particularly in the strategically important palm oil sector.
Overall, the meeting underscored the significant potential to expand the palm oil trade between Malaysia and West Africa in a way that can boost food security, economic development and create a win-win situation for both regions.