To avert a palm oil shortage in Pakistan, the Ministry of Commerce has asked the High Commission of Pakistan (Malaysia) to assist the Pakistani business community and industry in acquiring a steady supply of palm oil from Malaysia.
The Commerce Ministry is well aware of the problem involving edible oil as a result of the Ukraine war and Indonesia’s prohibition on the export of palm oil, according to a telegram from Pakistan’s High Commission in Malaysia to the Secretary of Commerce.
Under the leadership of the Federal Minister for Commerce, the prime minister established a task force with the mission of ensuring uninterrupted palm oil supply in the local market. Following the task force’s two meetings, the Secretary of Commerce directed the Mission to assist traders in obtaining a continuous supply of palm oil from Malaysia that meets their needs.
The following information was sought by the Mission:
How much palm oil from Malaysia must be arranged as soon as possible?
What type of palm oil is required, such as RBD palm oil or palm olein (specs)?
The Mission requested that the aforementioned information be submitted as soon as possible in order to prepare for palm oil supply.
The High Commission stated that because Malaysian suppliers are commercial enterprises, importers will have to purchase palm oil at spot prices, which are steadily rising.
FGV, KLK, Cargill, Sime Darby, MPOC, and MPOB are among the major suppliers and stakeholders contacted by the Mission. The vendors have guaranteed Pakistani buyers that palm oil will be delivered on time. Furthermore, suppliers want to know the quantity necessary by each buyer so that they can enter into commercial agreements with them.
Future purchases, which are substantially less than spot pricing, are also recommended by the providers.
A task group was established by the Ministry of Commerce to avert a scarcity of palm oil in Pakistan due to a short supply from Indonesia and a predicted shortage of edible oil in the nation.