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'Know who to target': How AI technology could improve consumer acceptance to palm oil – study

‘Know who to target’: How AI technology could improve consumer acceptance to palm oil – study
By Pearly Neo
Experts have suggested that the palm oil industry and food firms manufacturing palm oil-containing products use the power of artificial intelligence (AI) technology to identify the right consumer segments and methods to sway sentiment back in their favour.
Based on a data from consumer behavioural firm 113 Industries, there exist specific segments of consumers that have yet to make a decision about whether palm oil is ‘good’ or ‘bad’, and the industry needs to utilize AI tech to reach these consumers if it hopes to improve the online narrative surrounding palm oil. ....

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Turbulent times ahead? Malaysia palm oil faces uncertain 2021 with price, production and policy challenges

Turbulent times ahead? Malaysia palm oil faces uncertain 2021 with price, production and policy challenges
The palm oil industry in Malaysia needs to prepare itself for an uncertain year ahead with expected price volatility, production decrease and policy changes in the west, with the government attempting to shift to more value-added products in hopes of providing a boost.
According to data from the Malaysian Palm Oil Council (MPOC), palm oil prices on a global scale are expected to face a lot of uncertainty in 2021, as there are many key factors that could casue changes, all of which are subject to unpredictable changes. ....

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Emotion over science: Experts argue better social marketing can overcome negative consumer palm oil sentiment

Consumers are opting to buy ‘No Palm Oil’ labelled products in places where these are available due to the sense of ‘emotional protection’ this confers versus any real scientific knowledge, an expert panel has claimed whilst recommending better social marketing as the best tool to fight this.
This was the opinion of the six expert panelists who convened virtually for the ‘Vertical Challenges for Sustainable Palm Oil’s Future’ panel debate, held as part of the international Palm Oil Trade Fair and Seminar 2021 organised by the Malaysian Palm Oil Council (MPOC).
The panellists were: international civil society body Solidaridad Network Asia Senior Advisor Teoh Cheng Hai, the United Kingdom Field Conservation Manager Catherine Barton, legal firm FratiniVergano Partner and ASEAN states advisor Pablo Vergano, MPOC Science & Environment Division Director Dr. Ruslan Abdullah and EngageMinds Hub, Consumer, Food & Health Engagement Research ....

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Dramatic fall in Malaysia CPO prices seen as Mistry predicts 'a year of two halves'

KUALA LUMPUR (Jan 7): In a year of two halves seen for crude palm oil (CPO) prices, Godrej International Ltd director Dorab Mistry predicted today Malaysia CPO prices may fall dramatically in the second half of 2021 (2H21) in anticipation of higher oil palm output after an expected stronger prices for CPO in 1H21. Mistry, who was speaking at the Palm Oil Trade Fair and Seminar 2021 today, said "explosive" CPO price moves may happen between now. ....

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Palm oil export earning to surpass RM70b | Hellenic Shipping News Worldwide

Malaysia’s palm oil total export value is expected to surpass rm70 billion in 2020 as palm oil importing-countries are stocking up their inventories due to plunging demand. Plantation Industries and Commodities Ministry (MPIC) secretary-general Datuk Ravi Muthayah said the country’s export earnings is expected to reach RM52 billion for the year. Muthayah said that palm . ....

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