JPG, Fuji Oil to establish palm oil specialty refinery
Johor Plantations Group Bhd (JPG) announced a venture with Fuji Oil Asia Pte Ltd (Fuji Oil), a subsidiary of the Fuji Oil Group, a renowned global food ingredient manufacturer based in Japan, to develop a specialty oils and fats refinery operating on renewable energy.
The collaboration was formalised through a signing ceremony in Osaka, Japan, marking a significant milestone in the production of palm oil in Malaysia.
This strategic partnership brings together the expertise and commitment of two industry leaders and aligns with both companies’ dedication to environmental responsibility and innovation.
JPG managing director Mohd Faris Adli Shukery said, “Our collaboration with Fuji Oil, a worldwide leader in food ingredients, underscores our aspiration to become an integrated palm oil player by working with international partners to produce sustainable and responsible essentials for mankind.
“These initiatives also reflect our commitment to addressing our nation’s socioeconomic needs through innovative business ventures, while ensuring that product integrity and traceability remain fundamental to our business.”
Fuji Oil managing director Kunihiko Ogata commented, “Palm oil is a key raw material for the Fuji Oil Group, and we consider aiming for sustainable palm oil sourcing to be our societal responsibility.
“Fuji Oil Asia and Fuji Oil Group will actively engage in the supply of traceable and sustainable palm oil to contribute to society by working to solve the world’s food and health challenges.”
The venture aims to establish new standards for transparency, innovation, and quality in the palm oil industry by leveraging JPG’s extensive experience in sustainable palm oil cultivation and Fuji Oil’s advanced processing technologies.
This collaboration also enables JPG to tap into Fuji Oil’s wealth of experience in marketing, sales, technical capabilities, and well-established customer relationships with renowned multinational companies in the confectionery and packaged food sector.
Through the establishment of this specialty oils and fats refinery, JPG will facilitate the production of higher-value and quality palm oil derivatives and specialty products to enhance the market competitiveness for both JPG and Fuji Oil. The additional revenue streams across the entire value chain will also help cushion JPG against potential risks, bolster resilience in the dynamic market environment, and allow for higher margins for the company’s palm oil products.
The JPG and Fuji Oil venture signifies a milestone in the journey towards sustainable and responsible business practices in the palm oil industry. The venture represents a shared vision between JPG and Fuji Oil to transform the industry, proving that economic growth and environmental stewardship can go hand in hand.