Malaysia will always meet requirement of edible oil industries: Consul General

Karachi, December 11, 2012 (PPI-OT): A Trade Seminar was held today in local hotel organized by Pakistan Edible Oil Refiners Association (PEORA) in collaboration with Federation of Oils, Seeds and Fats Associations Limited (FOSFA).

H.E. Abu Bakar Mammat, Consul General of Malaysia in Karachi was the Chief Guest. The delegation from FOSFA constitutes Mr. Stuart Logan, Chief Executive, Mr. Girish Patel, Immediate Past President and Mr. Roger Rookes, Member.

This two day Trade Seminar is being organized for the awareness amongst the Edible Oil Industry of Pakistan of FOSFA Terms and Conditions, documentation and its execution, International Trading Standards, Technical Support and managing disputes and arbitration. An opening Presentation was given by the Immediate Past President of FOSFA, Mr. Girish Patel.

Mian Mohammad Hanif chairman of PEORA in his welcome address emphasized that Pakistan is the two million tons market for palm products and need the support of Government to reduce duties so that common man can be benefited with low prices.

Mr. A. Rasheed Janmohammed, Vice Chairman, Pakistan Edible Oil Refiners Association (PEORA) gave a Key Note Presentation on the Pakistan Edible Oil Scenario. In his presentation he informed the participants that Pakistan is the third largest importer of Palm Oil Products.

He briefed the audience with detailed statistics of import of Palm Oil Products in Pakistan from Malaysia and Indonesia for last three years. He also highlighted the impact of FTA signed with Malaysia and pointed out the upcoming impact of FTA which is signed with Indonesia but yet to be executed.

Mr. Rasheed Janmohammed also brief the audience the scenario of Edible Oil Refineries in Pakistan which has the capacity of 5,500 MT per day but due to tariff and other obstacles are unable to utilize 100% capacity rather capacity utilization is under 50%.

The Consul General of Malaysia while addressing the audience assured his full cooperation in the consistent supply of palm oil products to Pakistan and also assured to look into the issues raised in the presentation of the vice chairman of PEORA. The Consul General highlighted that Malaysia is the brotherly country and will always be there to meet the requirement of edible oil industries.

The Federation of Oils, Seeds and Fats Associations (FOSFA) is a professional international contract issuing and arbitral body concerned exclusively with the world trade in oilseeds, oils and fats with 975 members in 79 countries. These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, ship-owners, and others providing services to traders.

FOSFA has an extensive range of standard forms of contracts covering goods shipped either CIF, C and F or FOB, for soybeans, sunflower seeds, rapeseed, and others, vegetable and marine oils and fats, refined oils and fats, from all origins worldwide, for different methods of transportation and different terms of trade. Internationally, 85% of the global trade in oils and fats is traded under FOSFA contracts.

The Federation’s contracts incorporate a dispute procedure involving arbitration by experienced individuals from within the trade.

Amongst the audience who were representing Edible Oil Industry, Oilseed Industry, Oleo Chemical Industry, Surveyors and other different related figures of Edible Oil Industry. Fazal Qadir Sherani, President of Federation of Pakistan Chambers of Commerce and Industry, Mian Muhammed Ahmed, Patron In-Chief and Founder President Bin Qasim Association of Trade and Industry and Usman Ahmed, President, BQATI also graced the occasion.

For more information, Contact:
Rasheed Jan Mohammed
Vice Chairman
Pakistan Edible Oil Refiners Association
House # 392, Street # 71, G-11/2,
Islamabad, Pakistan
Mr. Ikram Chaudhary (Secretary)
Cell: 0300 – 2128185
Tel: +92 (0) 51 221 2914
Fax: +92 (0) 51 221 1375

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