On behalf of the members of All Pakistan Solvent Extractors' Association, I feel honored to welcome the participants to the Pakistan Edible Oil Conference 2019. The global oil and fats landscape is never short of excitement, uncertainties and challenges, and the past year has been no exception. Macro challenges, such as trade wars, have overshadowed the relatively stable supply and demand balance sheets, and having forced major world players to revisit their trading strategies. It is great to see PEOC continuing to serve as an important platform for global and regional market participants to collaborate and gain insights into the challenges and opportunities present in the markets.
APSEA members take pride in playing a vital role in meeting Pakistan's edible oil and protein requirements, while safeguarding our health & nutrition priorities, and supporting the key economic principle of value-addition. We are also committed to leading the country towards self-reliance in meeting its edible oil requirements, and increasing the share of local oilseed crops which currently contribute only ten percent to the local demand.
PEOC has also resulted in bringing together all the local stakeholders, APSEA, PVMA, PSMA and PEORA, and making a joint contribution for the betterment of the industry.
I would like to thank all participants, especially international participants who have travelled from around the globe to attend this conference, for their contribution in making PEOC a great success.