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HIGHLIGHTS OF THE WEEK

The Malaysian palm oil exports for November 2011 down 8.7 percent to 1.54 million metric tonnes from the quantity of 1.53 metric tones for the month of October 2011. It included 158,890 tonnes of RBD Palm Oil, 683,472 tonnes of RBD Palm Olein, 143,307 tonnes Palm Stearin, and Crude Palm Oil 337,526 tonnes. China was the biggest buyer by taking 361,324 tonnes. Followed by Pakistan taking 188,200 tonnes.  India and USA bought 157,853 and 148,592 tonnes respectively. European countries bought 227,912 metric tones.
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The Pvma

The Pakistan Vanaspati Manufacturers Association (PVMA) came into being with only 7 units as its members in 1961. This Association has been growing remarkably and now it comprises of 94 members engaged in the manufacture of Vegetable Ghee/ Cooking Oil in the organized sector contributing around Rs.30 billion annually to the government exchequer in the form of Custom Duty, Federal Excise Duty and Income Tax etc. The PVMA member Units are not only catering to the needs of Pakistan’s whole population, but also supplying this dietary item of daily use to the people of neighboring countries. The export of the Vegetable Ghee to Afghanistan and the Central Asian States via land route through Torkum and Chamman borders is a good source to earn precious foreign exchange for our country. In addition of boosting trade relations with these countries. Previously this Association was functioning as a trade entity, under the Companies Ordinance, 1984 and now it has been duly granted license to operate as Trade Association w.e.f. 08-09-2008 by the Directorate General of Trade Organizations, Ministry of Commerce, Government of Pakistan.

PVMA is one of the largest contributors to the government exchequer contributing around Rs. 30 billion annually to the government exchequer in the form of customs duty, sales tax, GST and income tax etc.

It is also among the top Associations operating as Trade Organization. Moreover, it provides employment, direct and indirect to more than 100,000 persons. PVMA member units annual production capacity is around 3.0 million tons with the facility to produce both high quality Vanaspati Ghee and Cooking Oils. The PVMA is an Association representing the Vanaspati Manufacturing Sector on all Pakistan basis. Its units are spread in all the four provinces and Federal Capital. For the sake of convenience the PVMA units have been divided into three Zones viz:

  • South Zone (comprising of units in Sindh and Balochistan Province),
  • Central Zone (units in Province of Punjab)
  • North Zone (units in the Islamabad Capital Territory, NWFP & AJK).

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