Bursa Malaysia decided to postpone from March to June the POC event, the world’s most important
conference and exhibition dedicated to Palm Oil. The decision came in the wake of widespread
fears raised by Coronavirus, the Chinese virus that has caused more than 900 deaths since December.
Bursa Malaysia announced the decision on its website a few days ago: “BMD has taken the decision to postpone POC2020 as the safety and health of our participants and those involved in the conference is our primary concern”.
Also, numerous large trade fairs and industry conferences in Asia have been delayed because of the
spread Chinese coronavirus, shuttering events where billions of dollars deals have been signed in
Coronavirus affects oilseed market
According to the Malaysian Palm Oil Board MPOB, the outbreak is having an impact on commodity prices, especially crude palm oil. “Prices will come down but this (will) only (be) a temporary phenomenon”, said Malaysian Primary Industries Minister Teresa Kok Suh Sim.
As a matter of fact, Palm oil prices in Malaysia posted sharp losses last week due to falling Chinese
demand. However, MPOB also said that while the outbreak has reduced consumption of edible oil
at restaurants, this will be compensated by higher demand for packaged foods such as instant
noodles. China is Malaysia’s second-largest customer for palm oil after India.
Indonesia, the world’s largest palm oil producer, is also suffering the consequences of the epidemics.
Indonesian Palm Oil Association (GAPKI) Executive Director Mukti Sardjono, confirmed that all
export activities to China have been stopped temporarily. The country exports about 6M tonnes of
CPO and PKO to China, its largest market for these products.
POC Conference and Exhibition by Bursa Malaysia
Palm and Lauric Oils Price Outlook Conference & Exhibition held annually over the past 30 years,
takes place in Kuala Lumpur and attracts more than 2000 industry players, including experts,
professionals, edible oil producers, and engineering companies from over 50 countries.
It provides a unique opportunity to get insights into the state of the art of processing technologies and on the latest trends in Palm Oil supply and demand.