In order to increase their cooperation in promoting the use of palm oil, the Indian Vegetable Oil Producers' Association (IVPA) and the Malaysian Palm Oil Council (MPOC) have signed a memorandum of understanding (MoU). The MoU is expected to boost the production and consumption of palm oil from Malaysia and palm oil with the MSPO certification. It will also increase collaboration in areas of mutual interest. It would advance the interests of producers, processors, users, and consumers through cooperative actions and assistance for product and market development. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
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THE KEY POINTS
- MPOC and IVPA have teamed up to broaden the appeal of Malaysian palm oil to Indian consumers, food manufacturers, and other end users.
- The MoU's efforts to increase public awareness of Malaysian palm oil employ the Malaysian Sustainability Palm Oil (MSPO) certification criteria as a baseline. MSPO's objectives include showcasing sustainability practices in the Malaysian palm oil industry.
- In order to educate Indian customers on the nutritional and health advantages of palm oil, the MoU aims to foster an understanding of palm oil and its uses while emphasizing its benefits.
- It also aims to increase trade opportunities in the market by identifying, highlighting, and sharing the most recent MSPO opportunities for Malaysian palm oil in India.
- The agreement's goal is to familiarize the Indian palm oil processing sector with the most recent technological and commercial developments in the Malaysian palm oil sector and its research institutions.
- The MoU will encourage the exchange of information on palm, edible oil, and fat-related businesses in addition to technical, policy, and administrative data.
- To progress "Aatmanirbhar Bharat," MPOC will assist the Indian palm oil industry in acquiring technical know-how.
Indian Vegetable Oil Producers Association (IVPA)
The Indian Vegetable Oil Producers' Association (IVPA) was founded in 1977 and formally formed as a non-profit organization under Section 25 of the Companies Act, 1956, in 1979. The IVPA is a group that represents all stakeholders involved in the edible oil value chain. In India's edible oil and oilseed value chain, IVPA's purpose is to promote excellence, economic growth, and sustainability. The goal of IVPA is to speak with authority on behalf of the key players in the Indian oilseeds and oil industry. In order to ensure that supply chains can continue to function and continue supplying safe and wholesome goods to a growing population, IVPA advocates for and provides input on policies that foster economic growth across the country and increase stakeholder value through ongoing investment and innovation.
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