{"id":207789,"date":"2022-09-26T18:38:42","date_gmt":"2022-09-26T13:08:42","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=207789"},"modified":"2022-09-26T18:38:42","modified_gmt":"2022-09-26T13:08:42","slug":"palm-oil-alliance-formed-by-5-south-asian-countries","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/palm-oil-alliance-formed-by-5-south-asian-countries\/","title":{"rendered":"Palm oil alliance formed by 5 South Asian countries"},"content":{"rendered":"\n<p><b>Source:<\/b><span style=\"font-weight: 400;\"> The post is based on the article <\/span><b>\u201cPalm oil alliance formed by 5 South Asian countries\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b>\u00a0Financial Express <\/b>on<b> 23rd September 2022<\/b><\/p>\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Edible oil trade associations from five palm oil importing countries in South Asia \u2013 India, Pakistan, Sri Lanka, Bangladesh and <\/span><span style=\"font-weight: 400;\">Nepal<\/span><span style=\"font-weight: 400;\"> announced the setting up of Asian Palm Oil Alliance (APOA).<\/span><\/p>\n<h5><b>What is Asian Palm Oil Alliance(APOA)?<\/b><\/h5>\n<p><b>Aim:<\/b><span style=\"font-weight: 400;\"> To safeguard<\/span><span style=\"font-weight: 400;\"> the economic and business interests of the palm oil consuming countries and will work towards increasing the consumption of palm oil in member countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 To work towards ensuring that palm oil is recognised as a high-quality, economical, and healthy vegetable oil and to change the negative image of palm oil.<\/span><\/p>\n<p><b>Members: <\/b><span style=\"font-weight: 400;\">India, Pakistan, Sri Lanka, Bangladesh and <\/span><span style=\"font-weight: 400;\">Nepal<\/span><\/p>\n<p><b>Meeting:<\/b> <span style=\"font-weight: 400;\">APOA held its first general body meeting on the sidelines of the Globoil Summit being held at Agra, India and the next meeting is expected to be held in Indonesia early next year 2023.<\/span><\/p>\n<h5><b>What is the significance of this alliance?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Asia accounts for around 40% of the global palm oil consumption while Europe accounts for 12% of the palm oil trade. Indonesia and Malaysia are the biggest palm oil exporters in the world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">India is the largest importer of palm oil in Asia, accounting for 15% of global imports, followed by China (9%), Pakistan (4%) and Bangladesh (2%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">India\u2019s annual imports of edible oil are around 13-14 million tonnes (MT). Around 8 MT of palm oil is imported from Indonesia and Malaysia while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine and Russia.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cPalm oil alliance formed by 5 South Asian countries\u201d published in\u00a0Financial Express on 23rd September 2022 What is the News? Edible oil trade associations from five palm oil importing countries in South Asia \u2013 India, Pakistan, Sri Lanka, Bangladesh and Nepal announced the setting up of Asian&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/palm-oil-alliance-formed-by-5-south-asian-countries\/\">Continue reading <span class=\"screen-reader-text\">Palm oil alliance formed by 5 South Asian countries<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,9],"tags":[10723],"class_list":["post-207789","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-public","tag-financial-express","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1700166423},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/207789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=207789"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/207789\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=207789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=207789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=207789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}