POINTERS: Outlook for 2011 - Challenges and Opportunities for Palm Oil

By: Tan Sri Datuk Dr. Yusof Basiron

TAN SRI DATUK DR. YUSOF BIN BASIRON aged 66, a Malaysian. He is presently holding several important positions which include: i. Chief Executive Officer of Malaysian Palm Oil Council (MPOC) ii. Director of Sime Darby Berhad iii. Chairman and Director of CBIP Berhad Apart from holding distinguished corporate positions, he is also involved in other organizations which are: (i) Senior Fellow and Past President of Academy Sciences Malaysia (ASM) (ii) Fellow member of Malaysia Scientific Association (MSA) (iii) Fellow member of Malaysian Oil Scientists' and Technologists' Association (MOSTA) (iv) Fellow member of the Incorporated Society of Planters His notable academic achievements are as follows: i. In 1972, he obtained his Bachelor in Chemical Engineering Degree from the University of Canterbury, New Zealand; ii. In 1974, he obtained his Post-Graduate Degree in Rubber Technology (ANCRT) in the United Kingdom; and iii. In 1976, he obtained his Masters Degree in Engineering specializing in Industrial Management (M.E.) and also in Business Administration (MBA) from the Catholic University of Leuven in Belgium. Before he joined Palm Oil Research Institute of Malaysia (PORIM) in 1979, he held the position of Rubber Technologist/Techno-Economist with the Rubber Research Institute (RRI)/Malaysian Rubber Research Development Board (MRRDB). In 1986, he completed his doctorate with a PhD in Applied Economics and Management Science from the University of Stirling, Scotland. He was later appointed as the Director-General of PORIM in 1992. He held the position for 8 years until April 2000 before assuming the role of the Director-General of Malaysia Palm Oil Board (MPOB), an organization which existed as a result of a PORIM and Palm Oil Registration and Licensing Authority (PORLA) merger, from 1 May 2000 until 18 January 2006.

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Questions & Answers (7) :

Tan Sri Yusof Basiron

12 years ago

Mr Errol Van Wyk, Thank you for your interest in promoting the use of palm oil in South Africa. Any effort to increase market penetration of palm oil is most welcomed and we are glad that you are doing an evaluation on palm olein/olive oil blend. When blending is allowed, super olein can be blended with minor percentage of olive oil to obtain the olive flavours. Seasonal ability of super olein to remain clear (no clouding) must be observed. Nutritionally, super olein is as good as olive oil (see MPOC website for details). In addition super olein is 10 times cheaper.

Tan Sri Yusof Basiron

12 years ago

Mr Silambarasan, The movement of palm oil price is basically determined by the overall scenario of the oils and fats market. Similarly in India, palm oil price movement in the country also follows the global trends. At the moment, palm oil price is on upward trends due to lower production recorded in 2010. It is forecasted that the effect will continue at least till April of 2011, thus maintaining the average price's upward momentum. To get the latest palm oil price, you can always refer to our website at www.mpoc.org.my as we update our pages daily. As for the questions of how you can forecast future palm oil price? Keep on following this webminar. You'll find invaluable 'pointers' on how you can do that from time to time. Our next web seminar is in 6 months time.

Silambarasan

12 years ago

Mr.Tan Sri Datuk Dr. Yusof Basiron, When will the palm oil price goes down ? and For What reason in India the palm oil price increases day by day? and How can i find current Palm oil price in the market OR w can i forecast future palm oil price.........

Errol Van Wyk

12 years ago

Evening Tan Sri Datuk Dr .Yusof Basiron, I have earlier e-mailed you regarding increasing usage of Palm Oil ( Palm Olein specifically ) in the S.A. market, ie blends suitable for retail market area. Further to this i would like to add that i have been working with a local producer of Olive Oil to evaluate blend of Olive Oil ( Virgin ) with Palm Olein (I.V. -65 material ) for possible retail market . Initial results look promising regarding ,cloud Pt /cloudiness apect at low temperatures, Further evaluation is to be carried out and commercial viability is been investigated. Regards, Errol van Wyk Errol van Wyk

Silambarasan

12 years ago

Thanks

Tan Sri Yusof Basiron

12 years ago

Dear Mr. Silambarasan, India introduced fixed tariff values on palm oil in August 2001. This is for the purpose of calculating import duty of palm oil. Most of India's palm oil imports are from Malaysia and Indonesia.

Silambarasan

12 years ago

Shall i know w the India fixes their Palm oil price & from where they imports Palm oil?