The Palm Oil Industry Association holds AGM

The Executive Committee of the Palm Oil Industry Association of Sri Lanka (POIASL) hosted the Association’s 3rd Annual General Meeting (AGM), on the 31st of August 2021 as a virtual event.

The POIASL represents all stakeholders, including cultivators, refiners, processors, manufacturers, marketers, and sellers involved in the production of palm oil and related products of oil palm. The POIASL’s primary focus is enhancing Sri Lanka’s economic crop diversity through a competitive, resilient, and sustainable palm oil sector. The Executive Committee comprises of Senior Management from across the key players in the palm oil industry.

Commenting on the recently concluded AGM, President/ Managing Director of Elpitiya Plantations, Dr. Rohan Fernando, stated, “I would firstly like to thank the Committee for their efforts in leading and guiding sustainable oil palm production for the past year, and look forward to next part of their tenure. It is very important that we maintain the high productivity of oil palm production as it can also contribute to mitigating the current foreign exchange crisis. By incorporating all tenets of sustainable agriculture at the heart of oil palm production, we have noticed not only environmental benefits – but significant improvements in the quality of life of the communities involved in and around oil palm cultivation. Our regional production centres have extended such benefits to a wider array of the community through their corporate social responsibility activities. We also look forward with hope that there would be a re-thinking of the current ban on cultivation of palm oil, keeping in mind the potential significant benefits that may be gained by conserving foreign exchange, and thereby stabilizing and strengthening the Sri Lankan economy – similar to the strategy used by the Indian government, which is a prime reference point.”

The POIASL will continue to represent all key industry stakeholder groups and aims to clarify locally held misconceptions about the industry, while advocating for strict regulation and providing guidance to ensure profitability, accountability, and transparency within the industry, with the vision of maintaining sustainable growth through responsible production.