An MoU was signed with the LuLu Group International to promote Malaysia’s palm-oil based products into the UAE by leveraging on LuLu hypermarket’s retail network.
UAE is currently the 4th largest importer of palm oil in the Arab world.
DUBAI, United Arab Emirates, February 11, 2022
In the presence of Malaysia’s Deputy Minister of Plantation Industries and Commodities, the Hon’ble Datuk Willie Anak Mongin, LuLu Group International announced its collaboration with the Malaysian Palm Oil Council (MPOC).
The ‘Malaysian Palm Oil, Full of Goodness’ consumer campaign kicked off at the LuLu Hypermarket in Dubai Silicon Oasis in its effort to drive the growth of the commodity in the UAE. As part of the Malaysian ministry’s participation in the country’s pavilion in Expo 2020 Dubai, LuLu has signed an MoU with MPOC, to promote and market Malaysia’s palm-oil based products through the latter’s wide chain of hypermarkets in the UAE. The collaboration also includes cooperation on various technological and economic advantages between both parties.
The LuLu Group’s strong retail presence will help to strengthen and consolidate the market reach of the commodity. Malaysia is currently the world’s second largest palm oil producer and exporter, accounting for 24 per cent of global palm oil production and 31 per cent of global exports.
The UAE is currently the fourth largest importer of palm oil in the Arab world, and imports is expected to reach USD467.1 million by 2025, according to a new report by Grand View Research, Inc.
“The LuLu Group is committed to making the campaign to raise awareness about palm oil a success,” said Mr. James Varghese, Director of LuLu Hypermarkets Dubai and Northern Emirates, “As a Group, we have a rich connection with Malaysia, where we have hypermarkets and a busy food sourcing network. We see that this MoU will bring a rewarding synergy to the campaign and serve the UAE and Malaysia effectively.”
Chief Executive Officer of MPOC, Wan Aishah Wan Hamid said, “As a major hub in the Middle East, the UAE has always been Malaysia’s largest export destination and second-largest source of import in this region and serves as a gateway for Malaysia to penetrate to new markets in the wider region”.
She added, ““There are also growing health concerns regarding trans-fat consumption, which have driven consumer preference towards saturated fats such as palm oil. Increasing demand for high-quality food products from tourists as well as local consumers has driven its demand. Hence, we are hoping to share all these via the ‘Malaysian Palm Oil Full of Goodness’ consumer campaign which is currently running for a week.”
Palm oil’s fractions and derivatives are widely utilised as alternatives for expensive bakery fats and vegetable oils including groundnut, coconut and sunflower. Additionally, food and beverage processors are increasingly opting for palm-based fractions and derivatives; owing to their high availability, competitive cost & greater functionality.
“The use of palm oil as a raw material for non-food uses, such as in the beauty, oleochemical and biodiesel industries makes this commodity one of the most important commodities for the global market.
“The usage of palm oil in the commercial food industry is extensive because of its lower cost and higher oxidative stability of the refined product when used for frying. In fact, it is used in around 50 per cent of products purchased and used by consumers on a daily basis,” she said.
In terms of sustainability, Malaysia has strengthened its commitment with the adoption of its nationwide Malaysian Sustainable Palm Oil (MSPO) certification programme, which has been made mandatory since 1 January 2020.
“The introduction of the MSPO certification has substantially raised the bar on the sustainability of vegetable oils while protecting the economy and ecology of Malaysia as part of our commitment to fight climate change,” she concluded.
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