Palm oil industry encouraged to look to Asia and Africa while forgetting the West

In Malaysia, the CEO of IOI Corporation suggested the palm oil industry forget about fighting for market access in Europe and instead focus on growing import markets in China and India while the Chairman of Bidco Group suggested investing in additional production in Africa. Half of the world’s population lies in Asia where demand will continue to increase while in Africa underutilized land could provide opportunities for increased production close to growing markets with an increased population of half a billion over the next decade.