CORPORATE PROFILE May 2014
CORPORATE PROFILE May 2014
Disclaimer
These materials have been prepared by Felda Global Ventures Holdings Berhad (“FGVH” or the “Company”) solely for informational purposes, and are strictly confidential and may not be taken away, reproduced or redistributed to any other person. By attending this presentation, participants agree not to remove this document from the conference room where such documents are provided without express written consent from the Company. Participants agree further not to photograph, copy or otherwise reproduce these materials at any point of time during the presentation or while in your possession. By attending this presentation, you are agreeing to be bound by the foregoing restrictions. Any failure to comply with these restrictions may result in a violation of applicable laws and commencement of legal proceedings against you. It is not the Company’s intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial position or prospects. The information contained in these materials has not been independently verified and is subject to verification, completion and change without notice. The information contained in these materials is current as of the date hereof and are subject to change without notice, and its accuracy is not guaranteed. The Company is not under any obligation to update or keep current the information contained in these materials subsequent to the date hereof. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of the Company, or any of its directors and affiliates or any other person, as to, and no reliance should be placed for any purposes whatsoever on, the fairness, accuracy, completeness or correctness of, or any errors or omissions in, the information contained in these materials. Neither the Company, its directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of these materials or their contents or otherwise arising in connection therewith. These materials contain historical information of the Company which should not be regarded as an indication of future performance or results. These materials may also contain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. These forward-looking statements reflect the Company’s current views with respect to future events and are not a guarantee of future performance or results. Actual results, performance or achievements of the Company may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future, and must be read together with such assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of the Company, and the forecast financial performance of the Company is not guaranteed. No reliance should be placed on these forward-looking statements, if any.
2
1. Information Background
Significant Shareholders (Total number of shareholders 49,057)
Top 10 Shareholding Position as at 31 Dec 2013
Shareholding 31 Dec
2012
31 Dec
2013
Changes
Malaysian
Bumi
Non- bumi
92.0%
81.4%
10.6%
90.1%
78.9%
11.1%
-2.1%
-3.1%
+4.7%
Foreign 8.0% 9.9% +23.8%
Total 100% 100%
Shareholding Breakdown as at 31 Dec 2013
Share Information as at 7 April 2014
Item
No. of Shares 3.65 billion
Price as at 14 February 2014 RM4.55
Market Capitalization RM16.6 billion
Shareholder’s Funds RM6.57 billion
Bursa Stock Code (5222)
FTSE Bursa Malaysia KLCI Constituent
MSCI Malaysia Index Constituent
Securities Commission Shariah Stock
4
No. Shareholders No. of shares %
1 FELDA 729,629,800 20.00%
2 Felda Asset Holdings 680,722,800 18.66%
3 Permodalan Nasional Berhad* 297,634,000 8.16%
4 Lembaga Tabung Haji 283,710,100 7.78%
5 Kumpulan Wang Persaraan
(Diperbadankan) 285,017,400 7.81%
6 EPF Board 254,405,700 6.97%
7 Pahang State Government 182,407,575 5.00%
8 Sawit Kinabalu Sdn Bhd 89,010,989 2.44%
9 National Association (Qatar) 85,433,900 2.34%
10 Chief Minister State of Sabah 65,934,066 1.81%
2,953,906,330 80.97%
11 Others 694,245,170 19.03%
Total 3,648,151,500 100%
*Including ASB, ASW2020, AS1M and ASM
History
1956 Federal Land
Development Authority ("FELDA”) was established as a statutory body under Land Development Ordinance
1959 – 1990 More than 850,00 Ha of land granted by state government under Group Settlement Area Act 1960 (“GSA”) had been brought under cultivation through FELDA operations
1980 Koperasi
Permodalan Felda (“KPF”) was established under the Co-operative Act
1990 FELDA decided
to stop further intake of small holders
1995 Incorporation of
Felda Holdings Berhad (“FHB”) as a wholly owned subsidiary of FELDA
2007 Incorporation of
FGV as a wholly owned subsidiary of FELDA
2008 FGV acquired
FGV North America from FELDA
2009 FGV acquired
49% equity interest in FHB from FELDA
2010 FGVH acquired
sugar business
2011 MSM Holdings
was listed on the Main Market of Bursa Securities
2012 Adoption of
New Business Model
28 June 2012 FGV was listed on the Main Market of Bursa Securities on 28 June 2012
2013 FGV gained full
control of FHB by acquiring 51% from KPF
LAND STRUCTURE
More than 850,000 Ha of Land
355,864 Ha
Felda Small Holders
479,765 Ha
• Small holders own the land
• Managed by FELDA/small holders
• Contractual arrangements with FELDA • 99-year lease
Granted by state governments under Group
Settlement Area Act 1960 (GSA)
FELDA
6
FGV
Corporate Structure
PT Citra Niaga
Perkasa
FGV Plantations
(Malaysia) Sdn
Bhd
FGV
Kalimantan Sdn
Bhd
100%
100%
95%
100%
FGV
Plantations
Sdn Bhd
Trurich
Resources Sdn
Bhd
7
TRT : Twin Rivers Technologies
ETGO : Enterprises de Transformation de Graines Olégineuses du Québec
KGPF : Kilang Gula Felda Perlis
MSM : Malayan Sugar Manufacturing
FGV
Sugar
MSM Company
Bhd.
KGFP
100%
100%
100%
11%
40%
MSM
Holdings
MSM Properties
Sdn Bhd
Astakonas Sdn.
Bhd
100%
100%
Felda Holdings Bhd
Felda Technoplant
Sdn Bhd
FPM Sdn Bhd
Malaysian Cocoa
Manufacturing Sdn
Bhd
Felda Agricultural
Services Sdn Bhd
Felda-Johore
Bulkers Sdn Bhd
Felda Plam
Industries Sdn Bhd
Felda Rubber
Industries Sdn Bhd
Felda
Transport Services
Felda Engineering
Services Sdn Bhd
72%
72.7%
100%
100%
100%
100%
76.9%
71.4%
51%
*Other
Businesses
FPG Oleochemicals
Sdn Bhd
51%
50%
100%
83%
67%
51%
Delima Oil
Products Sdn Bhd
Felda Kernel
Products Sdn Bhd
Felda Vegetable
Oil Products Sdn
Bhd
Felda Marketing
Services Sdn
Bhd
*Other
Businesses
*FGV
Downstream
100%
Felda IFFCO
100%
50%
FGV North
America
100% 100%
TRT Holdings
Inc
TRT Holdings
ETGO Inc
Pontian United
Plantations Berhad
100%
.
PT Landak
Bhakti Palma
PT Temila Agro
Abadi
95%
95%
50%
1. Competitive Advantages
Competitive Advantages
1. Third largest oil palm plantation operator in the world 1
5. Largest producer of refined sugar in Malaysia 5
Largest CPO producer in the world 2
2. Strong R&D support 3
Leading global,
integrated and
diversified agri-
business
player
Focused on palm and Malaysia while diversified across select commodities 4
9
469
391
288
217 217
158 148
140
86
0
50
100
150
200
250
300
350
400
450
500
SimeDarby
GoldenAgri
FGVH AstraAgro
Wilmar SalimIvomas
KLKepong
IOI FirstResources
Notes: (1) Includes LLA, FAS and Pontian oil palm plantation (2) Based on mature hectarage (oil palms aged 4 years and beyond) (3) % of global mature oil palm planted area. In 2012, there was 13.4 million hectares of mature oil palm planted area globally. Source: Frost & Sullivan
Third Largest Oil Palm Plantation Operator in the
World 1
In 2013, FGVH’s FFB production accounted for 5.3% of Malaysia’s total production
Global Market Share by Mature Planted Area(2)
’000s Ha
Peninsular Malaysia
423,464 Ha of Oil Palm Plantation Estates (1)
East Malaysia
Plantation Estates
Our Operations
Sabah
Sarawak
Kedah
Penang
Perak
Kelantan Terengganu
Pahang
Selangor
Malacca
Lahad Datu
Sahabat
Sahabat Complex
Sampadi Complex
Negeri
Sembilan)
Johor
0.6% 1.1% 1.1% 1.2% 1.6% 1.6% 2.1% 2.9% 3.5%
Source: Frost & Sullivan, FGVH, various company annual reports and websites
2012 statistic
%(3)
Total planted area – 361,003 ha (1) FGVH is the third largest oil palm plantation
operator in the world, with a 2.1% market share
(1)
Tawau
Perlis
10
Access to the CPO Output of the Largest
Producer in the World 2
Source: Oil World, MPOB, various company annual reports and websites
Market
Share (%) 6.2% 4.5% 4.5% 3.6% 2.8%
Notes: (1) Market share is calculated based on statistic figures from MPOB
FHB provides us with access to the downstream oil value chain
MM MT
2012 CPO Production FHB’s Market Share in CPO Production (Malaysia), 2012 (2)
Source:, Oil World, FGVH, MPOB, various company annual reports and websites
17.6% 12.8% 4.6% 3.6% Market
Share (%)
MM MT
(3)
11
3.3
2.4 2.4
1.9
1.5
0
0.5
1
1.5
2
2.5
3
3.5 3.3
2.4
0.86 0.67
0
0.5
1
1.5
2
2.5
3
3.5
20.5%
20.7%
20.5%20.5%
20.4%
20.5%
20.5%
20.4% 20.4%
20.3%
3.1
3.0
3.3 3.3
3.2
2.8
3.0
3.2
3.4
20.0%
20.1%
20.2%
20.3%
20.4%
20.5%
20.6%
20.7%
20.8%
2009 2010 2011 2012 2013
Our productivity is supported by higher than average yields and extraction rates
Source: Prospectus
section 7 p158
Notes: (1) A small proportion of the FFB produced by the FELDA-leased land is sold to third parties. In 2011, this amounted to 70K MT of FFB (2) Computed by multiplying FFB yield with average CPO extraction rate
Access to the CPO Output of the Largest
Producer in the World (cont’d) 2
19.8
18.8
19.9
19.219.6
19.2
18.0
19.7
18.9 19.0
17
18
19
20
21
2009 2010 2011 2012 2013
Average FGVH FFB Yield Malaysia Palm Oil Board benchmark
MT / Ha
Our FFB Yield Continues Exceeds Malaysian Benchmarks
5.2 4.7 5.1 4.9
4.8 4.8 5.3 5.6
4.9 4.75.4 5.3
0.3 0.20.3
0.3
-4
2
8
14
20
2009 2010 2011 2012
Total: 15.2 MM MT 14.5 MM MT 16.1 MM MT
FFB Supply Balanced Across Multiple Sources
Total Sources of FFB (MM MT)
FELDA-Leased and Managed Land (1) FELDA Small Holders
Third Parties FELDA Agricultural Services
%
CPO Extraction Rates
MM MT
Average CPO extraction rate Malaysia Palm Oil Board benchmark
CPO Production (RHS)
4.1
3.9
4.1
3.9
4.0 3.9
3.7
4.0
3.8 3.9
3.5
3.7
3.9
4.1
4.3
2009 2010 2011 2012 2013
CPO Productivity (3)
MT / Ha
Average CPO per ha of oil palm
plantation estate
Malaysia Palm Oil Board benchmark
16.0 MM MT
12
R&D Support
Areas of Focus Benefits
Increase yield and efficiency
Reduce production costs
Ensure environmental
sustainability
Maximize profits in the long run
Strengths
Notes: (1) Includes (i) a phosphate transport marker that can be used to detect oil palms with lower phosphate fertilizer requirements and (ii) a Ganoderma
boninsense marker that is intended to be used to develop Ganoderma boninsense-tolerant planting material
(2) Namely, rats, leaf-eating caterpillars, rhinoceros beetle and the fungal pathogen Ganoderma boninense
Oil Palm
Breeding &
Selection
• Active since 1968 via Tun Razak Agricultural Services Center
• Germinated Seeds: Award-winning Felda Yangambi brand
Biotechnology • Research center located in Enstek, Nilai
• Biomolecular marker research
– Filed patents for 2 types of markers(2)
Agronomy &
Crop Protection
Programs
• Focus on four main pests(3) using integrated pest management
with emphasis on biological control
• Production and sale of rat bait
Applied
Technology • Electronics and wireless sensor network technology
• Geographical information systems
Through, Felda Agricultural Services(1)
Downstream
R&D • Focuses on food and non-food product development.
3
13
Rationale for crop diversification across the value chain
Complementary crops: palm and rubber
Natural hedge against commodity volatility
Downstream businesses protect upstream margins
Revenue Split by Segment (1)
Section 8, p330 Section 8, 329
4 Focused on Palm and Malaysia While Diversified Across Select
Commodities ...
% Revenue
(palm oil and
rubber)
RM MM
17% 8% 1% 100% 74%
Revenue Split by Geography (2)
Notes: (1) FYE 2013 Revenue Split by Segment (consolidated) (2) 2012 Annual report (before consolidation)
Key benefits
Diversify macroeconomic exposure / risk
Broader reach to global customers and end-customers
14
0
2000
4000
6000
8000
10000
12000
14000
Plantation Sugar Downstream Others Total
Malaysia 70%
China 9%
Asia 7%
US & Canada
4% Others
10%
Revenue
Our annual sugar production capacity is over 1.1 MM MT
Sugar Assets Owned by FGVH
Notes: (1) Exchange rate of USD1 = MYR3.08 as of 28 Sep 2013 (Bloomberg)
Leading Market Share in Malaysia in 2012
Source: Frost & Sullivan
MSM56.9%
Central Sugar
Refinery
43.1%
Leading Market Share in Malaysia of 57% in 2012
% of Total Production Volume
• 100% acquired in 2010
• IPO in June 2011 on Bursa Malaysia
(KLSE:MSM)
• Market capitalization of MYR3.5 billion as at
17 February 2014
• Share price as at 17 February 2014 RM5.00
51%
Largest Producer of Refined Sugar in Malaysia 5
15
Full integration of FGV & FHB operations across the palm and rubber value chain
• 71 palm oil mills
– 20.7 MM MT of
annual milling
capacity
• 3.3 MM MT of CPO
produced
• 5 palm oil refineries
through JV
• Soy & canola
crushing – Canada
• Oleochemical facility
in US
• Biodiesel facility in
Kuantan
• Plantation land in
Malaysia and
Indonesia (incl. JV)
• Production of
packed goods for
consumers and food
services industry
• Production of
1.5 MM MT of RBD
products
Upstream Downstream & Logistics
• 10 bulking
installations
– 486 storage tanks
with 752,250 MT
capacity
• 2 warehouses
– 88,000 MT storage
capacity
• 7 distribution depots
• 437 lorry tankers &
cargoes
Plantations &
Support Mills Refineries, Crushing,
Oleochemical & Trading Bulking & Logistics
Packed Consumer Goods
• 7 palm oil refineries in
Malaysia & Pakistan
with annual refining
capacity of over 2.5
million MT
• 4 kernel crushing
plants in Malaysia
• One oleochemical
plant in Kuantan
through JV
• 11 rubber processing
facilities in 3 countries
with total annual
processing capacity of
257,600 MT
FHB
• 12,611 ha of oil palm
plantation for R&D
purposes
• R&D support for
upstream &
downstream palm,
rubber & sugar
• High yielding oil
palm seed
production facility
• Production of
fertilizer
Midstream
Milestones (cont’)
16
• 1 palm oil mill
(Pontian United
Plantation.
• 1 Kernel crushing
plant (not in
operation)
Plantation Estates
• 335,336 ha of oil palm
plantations in
Malaysia
• 38,775 ha of oil palm
plantation in
Indonesia
• Produced 5.0 mil MT
of FFB in 2013
Mills
• 72 palm oil mills
• 20.7 mil MT of annual
milling capacity
• 3.2 mil MT of CPO
produced in 2013
Refineries
• 5 palm oil refineries
through JV
• 7 palm oil refineries
• 5.2 mil MT capacity
(including JVs )
Logistics
• 10 bulking installations
• 486 storage tanks with
752,250 MT capacity
• 2 warehouses - 88,000
MT storage capacity
• 7 distribution depots
• Transportation services
– 251 palm oil tanker
and 186 lorries.
RBD Products & Packed Goods
• 4.3 mil MT capacity if
RBD products via JV
and associates.
• 1.3 mil MT capacity of
packed products via JV
and associates.
Oleochemicals
• 2 oleochemical plants
through JV
• Located in Kuantan,
M’sia and Quincy, MA.
USA
• Product: Methyl esters,
fatty alcohols and
glycerin
Upstream Midstream Downstream
17
Integrated Across Palm Value Chain Manufacturing , Logistics and Others (MLO)
18
1. Industry Overview
Palm oil is the largest and fasting growing vegetable oil
Palm oil is the highest yielding oil crops
Palm oil is the largest and fastest growing vegetable oil, contributing to ~1/3 of overall vegetable oil production
Palm oil alone has contributed to almost 50% of overall growth in vegetable oils over the last 5 years
1. Exclude yield from palm kernel Source: Foreign Agricultural Service (FAS), USDA; JP Morgan
4 3 2 1 0
Corn 0.2
Cotton 0.3
Soybean 0.4
Sunflower 0.9
Peanut 1.0
Rapeseed 1.1
Olive 1.2
Coconut 2.7
Palm1 4.0
Oil yield per hectare (MT/ha)
Sunflower
Palm kernel
Peanut
Cotton
Coconut
Olive
2010
146.4
47.7
41.6
23.1
11.5
2009
140.3
45.9
38.9
22.4
11.7
2008
133.7
44.0
35.9
20.5
12.0
2007
128.6
41.1
37.8
18.4
10.0
2006
121.8
37.3
36.5
17.1
Total global vegetable oil production (million MT)
2005
118.9
35.8
34.9
150
100 10.7
50
0
Palm
Soybean
Rapeseed
17.4
10.6
2.4%
1.1%
1.6%
0.8%
5.1%
4.8%
5.0%
3.1%
5.9%
CAGR ('05-'11) xx%
19
2011
153.2
50.6
42.0
23.4
14.1
Palm oil industry has grown at over 18% CAGR
Total market
size (USD Bn)
1. EIU Data on CPO Spot price in USD Source: USDA FAS (world production), MPOB (prices), EIA (oil prices), James Fry (LMC) CPO price analysis presentation
Palm Oil market value 2005-2012 (USD Bn)
0
10
20
30
40
50
60
2005 2006 2007 2008 2009 2010 2011 2012
+18%
15 18
32
42
31
42
53
48
20
Growth has been driven by both volume and value
Palm oil prices have grown by 9% p.a. between 2000 and 2012
Palm oil supply has grown by 7% p.a. between 2000 and 2012
1. EIU Data on CPO Spot price in USD Source: USDA FAS (world production), MPOB (prices), EIA (oil prices), James Fry (LMC) CPO price analysis presentation
World palm oil production (Mln Mt)
60
40
20
0
+7%
2010
48
2009
46
2008
44
2007
41
2006
37
2005
36
2004
34
2003
30
2002
28
2001
25
2000
24
CPO price (US$/t)1
1200
900
600
300
0
+9%
2010
901
2009
683
2008
949
2007
780
2006
479
2005
422
2004
471
2003
443
2002
390
2001
286
2000
310
21
2011 2012
52
55
2011 2012
1022
878
Malaysia and Indonesia are the dominant producers Demand is global but increasingly concentrated in emerging markets
...while consumption less concentrated Upstream is concentrated in SEA...
Top Palm Oil producing Countries in 2012 (Mln Mt) Domestic Palm Oil Consumption Countries in 2012 (Mln Mt)
Source: USDA 22
0
10
20
30
40
50
60
28.5
19.0 2.1
1.0 0.9 3.9 55.3
Top 2 producing
countries account for
~86% of total
production
0
10
20
30
40
50
60
8.4
7.8
6.3
5.6
3.1 2.2
1.6 1.4
1.2
16.1 53.7 Top 3 consuming
countries account for
~40% of total
demand
23
1. Felda Global Ventures Holdings (FGV) and
Economic Transformation Programme
12 New Key Economic Areas: Palm Oil as Key Driver of Malaysia Economic Activity
Advantages of Malaysia Palm Oil Industry • Fourth largest contributor to the
Malaysian Gross National Income (GNI) – 8%
• 100 years of experience
• Strong market leadership in terms of productivity and R&D
Propelling Malaysia Towards Becoming a High-Income Developed Nation
Middle Income Nation
6% p.a. Growth Rate
High Income Nation
24
25
Upstream
1. Accelerating the replanting of oil palm
2. Improving fresh fruit bunch yield
3. Improving worker productivity
4. Increasing the oil extraction rate
5. Developing biogas at palm oil mill
Downstream
6. Developing oleo derivatives
7. Commercializing second generation biofuels
8. Expediting growth in food-and health-based downstream
FGV
FGV Towards Economic Transformation Programme (ETP)
In transforming Malaysia’s palm oil industry and in driving the productivity improvement, the following items are the focus of the ETP:
Entry Point Projects (EPP)
26
1. Growth Drivers
Malaysia exports 90% of palm oil production which contributes 41% to the total
world palm oil exports
Source: USDA
Industry employs directly ~570 000 workers and accounts for ~7% of national GDP
27
0
5
10
15
20
25
30
35
40
45
2009 2010 2011 2012
Million MT
Malaysia Total
Malaysian Palm Oil Exports Vs
World Palm Oil Exports
41.7
17.2
39.0
16.6
36.9
16.6
35.5
15.5
0
2
4
6
8
10
12
14
16
18
20
2009 2010 2011 2012
Million MT
Exports Total Production
Malaysian Palm Oil Production and Exports
19.0 18.2 18.2
17.8
15.5 16.6 16.6
17.2
28
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
0
20
40
60
80
100
120
140
160
180
200
1990 2000 2010 2012
Palm Oil Consumption Total Oil & Fats Consumption
World Population (RHS)
Key Growth Driver
Growth Drivers Demand for food and edible vegetable oils
– Population growth
– Economic growth
– Increasing world urbanization rate
World Palm Oil Consumption
Source: USDA, MPOC
183.6
171.7
113.8
80.9
51.7 45.6
21.8
11.1
Million MT Billion
Palm Oil 28%
Soybean Oil 23%
Sunflower Oil 8%
Rapeseed Oil 13%
Others 28%
2012 World Vegetable Oil Consumption
29
1. Appendix
Palm Oil
What is it used for?
• Palm fruit oil is consumed worldwide in more than 100 countries. In some parts of the world, palm fruit oil
is often still consumed in its unrefined state, as an ingredient of traditional dishes, where it contributes its
characteristic golden red color and unique flavor. However, to most users, palm oil is more familiar as a
refined vegetable oil product purchased at their local store and incorporated into their everyday foods.
• Foods with palm oil elements are baked goods, instant noodles, baby formula, cake mixes, breakfast bars,
potato chips, crackers and other snacks such as French fries.
• Of the oils and fats on the market, palm fruit oil serves well many of might best meet today’s consumers
criteria. It is healthful, abundantly available, relatively inexpensive, and technically suitable for most food
products.
• Palm oil has become the largest internationally traded vegetable oil in the world proving its acceptance in
the global market.
• About 90 percent of palm oil currently goes into food and consumer goods applications and the remaining
10 percent goes into non-food applications.
30
Oil Palm is cultivated in 43 countries throughout the World
Ripe fresh fruit bunch (FFB) harvested
Oil palm trees
31
FFB and Palm Fruit
32
FFB Bunch weight : 20-30kg Fruits per bunch : 2500 - 3000
Fruitlets Opened fruitlet
Mesocarp (Palm Oil) Kernel (Palm
Kernel Oil)
Shell
Harvesting process
33
Transportation of FFB to mill
Delivered to mill within 24 hours
34
Mill and Crushing Plant
35
Mill Crushing Plant
Crushing Plant Tresher Storage tanks
By products of FFB
36
Shell
Mesocarp
Fibre
Compost Empty Bunch /
Shredded Efb
Legend:
Product
Process
Milling
Edible Oils & Fats
Oleochemicals Biodiesel
Industrial and Consumer Products
Palm Kernel
CPKO
Crushing
RBD PK Olein
RBD PKO
RBD Palm Olein
RBD Palm Stearin
RBD PO
Refining
FFB
EFB
Biomass
By-product Crushing Refining
Refining
Crushing
RBD PK Stearin
CPO
Refining
Refining & Fractionation
Refining
Refining & Fractionation
Overview of Palm Oil Value Chain
37
RBD Stearin
RBD Palm stearin is used in the confectionery and bakery as well as soap industry. Eg. Margarine, shortening, vanaspati
RBD Palm Olein is the liquid fraction obtained by the fractionation of palm oil after crystallization at controlled temperatures. It is especially suitable for frying and cooking. Main applications of RBD Palm Olein include salad and cooking oils in households, industrial frying fat of instant noodles, potato chips, doughnuts and condensed milk.
Palm Oil Application
38
39
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