BALI, Indonesia, Nov. 3, 2022 /PRNewswire/ -- The G20 Sustainable Vegetable Oils Conference (SVOC), which took place today (3 November 2022) in Bali, was a resounding success, with the participation of the most important stakeholders in the vegetable oil sector. Taking part in the conference, organized by the Indonesian government and co-organized by the Indonesia Oil Palm Plantations Fund Management Agency (BPDPKS), Council of Palm Oil Producing Countries (CPOPC) and Indonesian Palm Oil Association (IPOA), were representatives of the main producer countries: China, India, Russia and Ukraine, as well as Indonesia and Malaysia. This shows that in this period of uncertainty, the community of vegetable oils producers stand united and not divided, in a shared common interest to ensure and food and energy security and to allow the economy to grow given the rapid growth of population and the climate crisis.

The Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto reiterated the importance of ensuring the availability, accessibility and affordability of agricultural commodities in the global market, including vegetable oils. "We need to move quickly and decisively to working together in confronting structural market issues that may exacerbate adverse impacts", said Airlangga.

China is transitioning to green development and tackling climate change through collaboration with other countries towards sustainability in the vegetable oil sector. Union Minister of State for Agriculture and Farmers' Welfare of India, Shobha Karandlaje, called on the importance of new climate resilient oilseeds that would be beneficial for both poor and developed countries in the future. 

Other speakers from WTO, UN FAO, World Food Program and certification bodies also shared their insights. Some of the take aways included that although the production and distribution of some oils has been disrupted, others have stepped in to guarantee food and energy security. Many vegetable oils supply chains, such as the palm oil and soya bean, have managed to invest in innovation and sustainability, reduce the impact of farming and production systems on biodiversity and ecosystem. The conference also provided a platform to deliberate the latest developments on sustainable certification schemes for palm oil as well as the latest technology to ensure traceability of palm oil supply chain.

The Secretary General of CPOPC Rizal Affandi Lukman asserted that sustainable palm oil is the most affordable and efficient vegetable oil as well as a healthy and nutritious oil. It provides an answer to the global shortage-led-to-crisis of vegetable oils and the current energy crisis in Europe especially on the use of sustainable palm oil biofuel as a source of energy that is badly in need for this winter season. Chairman of IPOA, Joko Supriyono, encouraged all vegetable oil producers to meet the world's food and energy needs with sustainable production and play a role in achieving the SDGs.