01/05/2008 (The Peninsula, Qatar), Doha - Palm Oil exports from Malaysia to Qatar have recorded significant growth last year underlining the potential of palm oil in Doha market.
According to latest reports from the Malaysian Palm Oil Council (MPOC), Qatar had imported 108 metric tons (MT) of palm oil in 2007 which is up by 5 per cent from the previous year.
"Qatar's has become a leading target for Malaysian palm oil imports due to increasing local demand for the product in the domestic and industrial sectors," said Ahmad Zafri Zawawi, Regional Director - Middle East, MPOC. "Given the existence of several business-encouraging factors, we expect a majority of local companies to participate in the first 'Malaysia-UAE Palm Oil Trade Fair & Seminar (POTS) 2008' and aim to further strengthen our product's presence in the local and regional market."
In line with this, players within this growing local market are expected to establish a strong presence at the first 'Malaysia-UAE Palm Oil Trade Fair & Seminar (POTS) 2008', which is being organised by MPOC and the Malaysian Palm Oil Board (MPOB) and will run from May 26 - 27, 2008 at the Grand Hyatt Hotel in Dubai.
Within the last five years, the GCC has become a very important destination for Malaysian palm oil, with total exports of the product to the region averaging at around 500,000 MT annually. Though a relatively smaller market, Qatar has imported 103 MT of Malaysian palm oil in 2006 and 108 MT in 2007 to address the increasing local demand for the product in the domestic and industrial sectors.