Sponsors

Bursa Malaysia

Kulim (Malaysia) Berhad

 

POINTERS 2014 MPOC
Palm Oil Internet Seminar
0

:
Pakistan – Consistent Importer of Oils and Oilseed
By: Mr. Rasheed Janmohammad

Mr. Rasheed Janmohammad is the Chief Executive Officer of Mapak Edible Oil (Pvt.) Limited, the largest physical refinery operating in Pakistan. He is also the CEO of FWQ Enterprise (Edible Oil Jetty) and Mapak Qasim Bulkers, which are joint venture projects of leading Malaysian companies with Pakistan’s Westbury Group. Mr. Janmohammad is actively involved in the operations of these organizations and also serves as the Director of Westbury Private Limited, Dalda Foods Pakistan, Trading Enterprise Private Limited, Bulk Management Pakistan, Shakoo Private Limited and F&B Bulk Storage Limited. He is also part of the managing committees of various trade organizations and Karachi Kharadar Hospital. Mr. Janmohammad received his Master of Law degree from S. M. Law College before joining the edible oil trade in 1980. He has been involved in all aspects of the oils and fats trade and has spearheaded the growth of his family business which now has stakes in edible oil trade, refining, manufacturing, oilseed crushing, education, rice and molasses export. He is passionate about the growth of the oils and fats business in Pakistan and is the driving force behind the Pakistan Edible Oil Conference (PEOC). Mr. Janmohammad contributes actively in local and international journals and is also a regular speaker at oils and fats conferences in Pakistan and abroad.
VIEW PROFILE
Despite of being an agricultural based economy the indigenous production of oilseed in Pakistan is barely contributing 20% of our total requirement. It has declined from approximately 700,000 in 2011 to 500,000 MT in 2015. The gap between demand and local production is being met with imports of edible oil and oilseed. Keeping in view that it is oils and fats import is an essential item for our industry and household, this category is still taxed very highly at import stage. At current prices, the import duty on most of the oils is over 30% which is a huge burden on both industry and consumer.

Imports of oils and fats in Pakistan have shown consistent increase and has grown by approximately 30% over the past 5 years. It is pertinent to mention that palm oil has a lion’s share of more than 85% in the total oils and fats import and 70% in the total consumption in Pakistan. The import of oilseeds is another area which has shown significant increase in the last 4 years and will become an integral part of oils and fats industry of Pakistan.

Malaysia has dominated the palm oil supply in Pakistan is facing tough competition from its neighbour Indonesia. The market is shifting towards Indonesian suppliers primarily due to price discount offered on consistent basis. Pakistan will always be a palm oil buyer and it is up to Malaysian suppliers to decide on how they want to recapture this market.

The year 2016 has been very vulnerable year for Edible Oils. With due respect, again most of the forecasts did not prove right as perhaps everyone overestimated the supplies. The highest we have seen on MDEX was RM 3202 on 16th December 2016 and the lowest we have seen was RM 2186 on 12th July 2016 i.e. swing of almost 46% within span of six months. In my paper, I would evaluate the market statistics and give my projections about the prices of first half of 2017.


Download Report Download Slides
Please login to post Question & Answer;
Questions & Answers (0) :
3,449 registered users
0 currently online
Members' Login
Username
Password  
    Remember me
    LOGIN
    Forgot Password?
Recent Comments
“raid@soonsoongroup.com”
- Mohamad Raid Majzoub
“Hi, PKO prices. Thank you. ”
- Mohamad Raid Majzoub
Archives
© 2017 Malaysian Palm Oil Council (MPOC). All Rights Reserved. For enquiries please contact info@pointers.org.my