EDIBLE OILS Business Review: Oils & Fats Division High-Margin Products Diversifying the product portfolio by producing high-iodine value (IV) oil, offering added value and versatility for various applications. Geographic Expansion Expanding product sales to Mekong countries and the Middle East & East Africa (MEEA) markets. Export Sales of Refined Oil (Lauric Segment) Expanding international reach to capitalise on growing global demand for high-quality PKO. Palm Kernel Expeller (PKE) Sales for Local Market Boosting resource efficiency and sustainable practices by increasing PKE sales in the local market. BUSINESS ENVIRONMENT In 2024, the edible oil business navigated a competitive market driven by shifting consumer preferences, rising sustainability demands, and evolving trade policies. Focusing on niche, high-value products, FGV introduced high IV (IV65) oils and PKO in compliance with EUDR requirements, reinforcing its commitment to responsible sourcing. The business expanded its service offerings with diverse packaging solutions, including flexi bags, to cater to industry needs while optimising costs. High-quality, low-cloud point oils enabled market expansion into colder regions, meeting stringent performance and sustainability standards. By enhancing product quality, operational efficiency, and market reach, FGV strengthened its global presence while maintaining a responsible, value-driven approach. These efforts positioned the business for sustained growth in an evolving industry landscape, where regulatory compliance and innovation remain critical to long-term success. WHO ARE WE AND WHAT WE DO FGV’s Edible Oils cluster specialises in refining and distributing palm-based oils, including CPO, refined palm oil, and palm kernel oil (PKO), serving both domestic and international markets. With refineries in Malaysia and Pakistan, FGV processes CPO into high-quality cooking oils & fats for industrial and consumer use. The business focuses on expanding market reach and capitalising on rising palm oil demand, particularly in emerging economies. By enhancing operational efficiency, driving product innovation, and pursuing market expansion, FGV continues to strengthen its position in the global palm oil market and support overall business growth. KEY FOCUS AREAS FGV focuses on product quality, operational efficiency, and a value-driven approach. 94 FGV Holdings Berhad | Annual Integrated Report 2024
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