Experts underscored the untapped potential and health benefits of palm oil for Organization of Islamic Cooperation (OIC) member countries at an international seminar hosted by COMSTECH and led by the Indonesian Embassy in Islamabad, Pakistan.
The seminar titled “Sustainability of the Palm Oil Industry and its Derivative Products” aimed to raise global awareness about the sustainability of palm oil and its derivatives, emphasizing their significant advantages for both economic development and public health.
COMSTECH is the OIC Standing Committee for Scientific and Technological Cooperation and is hosted by Pakistan.
Sustainable practices within the Palm Oil industry discussed
Held at the COMSTECH Auditorium, the seminar brought together experts, industry leaders, and policymakers to discuss the multifaceted advantages of palm oil and its derivatives. The seminar underscored the importance of sustainable practices in ensuring the industry’s long-term viability and its role in global health and wellness.
Prof. Dr. Syed Khurshid Hasnain, COMSTECH Adviser, emphasized the organization’s commitment to supporting natural products from OIC member countries. He called for increased applied research to harness the full potential of these products for industrial purposes, thereby driving economic benefits.
Role of Palm Oil in Indonesia’s economy
Indonesian Chargé D’Affaires Mr. Rahmat Hindiarta Kusuma highlighted the critical role of palm oil in Indonesia’s economy, contributing 4.5% to the GDP and providing employment to over 17 million people.
He noted Indonesia’s advancements in eco-friendly and labor-friendly palm oil production methods, stressing the need for continued bilateral trade and collaboration.
Key Facts
- Indonesia is the world’s leading producer and exporter of palm oil.
- The palm oil industry is the largest foreign exchange contributor to the Indonesian economy.
- In 2023, Indonesia produced 56 million tons of palm oil, exporting 26.33 million tons worth $1.7 billion, which represents 54% of the global market.
- Indonesian government is currently focused on encouraging sustainable practices within the palm oil industry.
Versatility and benefits of Palm Oil
The seminar showcased the industrial versatility of palm oil, noting its applications in cosmetics, pharmaceuticals, paints, plastics, and biofuel. Comparative studies presented at the event revealed palm oil’s cost efficiency and high yield compared to other vegetable oils.
Scientific presentations highlighted the health benefits of palm oil and affirmed Indonesia’s adherence to sustainable farming practices. These practices include a focus on human rights, anti-deforestation measures, and environmental protection, aligning with the Sustainable Development Goals (SDGs).
Key speakers included Prof. Dedi Budiman Hakim from Bogor Agricultural Institute, Mr. Rashed Jan Muhammad, President of BQATI, Prof. Muhammad Asim Shabir from the University of Faisalabad, Mr. Djono Albar Burhan from the Indonesia Palm Oil Association, Dr. Humaira Fatima from Quaid-e-Azam University, and Shahid Pervez, Secretary General of PVMA.
The event attracted a diverse audience of entrepreneurs, scholars, students, and journalists, enhancing cross-sectoral dialogue on sustainable palm oil practices. Attendees received goodie bags from Indomie Pakistan, featuring palm oil-based products.
This seminar marks another milestone in the successful partnership between Indonesia and COMSTECH, furthering their joint mission to advance science and technology within OIC member countries. Plans are underway for a future exhibition focusing on nutraceuticals and cosmetics made with natural and halal ingredients, reinforcing their commitment to sustainable development.