Global palm oil conference
> Industry players discuss important marketing issues at Pipoc 2015
RECOGNISED by the Food and Agricultural Exhibition Organisation (FAO) and World Health Organisation (WHO) as one of 17 edible oils in the world, palm oil is a crucial commodity that has helped fuel the Malaysian economy. Malaysia is the world’s second largest producer of palm oil, which is consumed by almost three billion people across 150 countries.
With that, the International Palm Oil Congress and Exhibition (Pipoc) 2015 is held once every two years, gathering the biggest congregation of those in the palm oil industry. This year, the three-day conference held early October at the KL Convention Centre was themed “Oil Palm: Powering the World, Sustaining the Future”. It attracted industry players who discussed important marketing issues.
The only tree crop in the world to produce two distinctive types of oil from a single fruit, palm oil is known as the most versatile vegetable oil due to its functionality and economic advantages. Ergo, if marketed correctly, palm oil can have a tremendous impact on our country and its economy. Unfortunately, due to numerous environmental and labour controversies, many companies have had their brand name tarnished despite efforts.
Touching upon the topic of “Palm Oil Acceptance Through Proper Branding” at the “Global Economics and Marketing” forum, DCI Group vice-president Keith Newman ( pix) shared his views on solving the obstinate issue. Here are some of his recommendations:
RAISE CONSUMER AWARENESS Asians tend to lean towards a more direct consumerism approach when it comes to marketing. Engaging with consumers on the plus side of palm oil is crucial as the public should be made aware about the various vitamins and nutrients in palm oil in defiance to other studies that have proved otherwise. Newman also said that everybody within a community should communicate on the benefits of
ADD VALUE, DEBUNK MYTHS Companies should look to add value to a situation and emphasise the many hidden benefits of consuming palm oil instead of allowing the widespread of distorted information on the negative side effects linked to diseases such as obesity, high blood pressure and cholesterol. Found to have less fat deposition compared to soybean oil, palm oil is made of phytonutrients containing vitamin E and carotenes. Its rich red colour carotene consists of vitamin A which is an essential nutrient and antioxidant with many health benefits.
ADVOCATE BUY LOCAL As in all cases, the only way to create awareness is to introduce it at grass root level via education. It is important to educate the public on local products as without support, the industry cannot grow. By supporting local products and acknowledging the good in palm oil, the country will benefit. Companies can also take the opportunity to establish competitions on green technologies to give young budding engineers and scientists a platform to uncover the fruit’s potential.
FORESIGHT AND PRODUCT SUSTAINABILITY Companies should have foresight and take pro-active measures to establish a more steadfast and sturdy name for the brand and ensure the sustainability of palm oil for years to come. As an example is a branding campaign accomplished overseas: “Pieter-Jan Hannes and his collaboration with The Oil Palm. Hannes”, a Belgian middle-distance runner who also specialises in cross-country running, embarked on a branding campaign to spread awareness on palm oil.
PROTECTING BRAND IMAGE Creating nationwide campaigns to share the good word on palm oil is insufficient especially if companies do not practice defending and upholding the image of the company and the brand. By keeping the public rightly informed on the progress and benefits of palm oil, people will be more susceptible in keeping abreast with the brand and make an effort to engage with other consumers. This can be achieved via social media, ideal for tracking opportunities where through micro targeting companies can monitor important consumer demographics to improve market penetration.