Headline News on Palm Oil. April 2022
|
|
|
|
Read curated news that impacts the global palm oil industry.
CSPO Watch News. Making it easy for you to follow the palm oil industry |
|
|
|
Indonesia - Palm oil board confident export ban could end in May
Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets. The world's top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices. Sahat Sinaga, senior official at the Indonesian Palm Oil Board, said that decision had shocked the industry, but that he was confident the supply issue could be resolved not long after the Muslim festival of Idul Fitri in early May. The Jakarta Post
---
Indonesian farmers hit by palm oil export ban, imposed to curb shortage
Indonesian President Joko Widodo, known as Jokowi, widened a ban on palm oil exports on April 28, 2022, days after announcing a partial ban to curb domestic cooking oil shortage and food inflation.
Owners of small plantations in the town of Kampar, Riau province, began feeling the brunt of the export ban even before it took effect. One farmer said that the ban has led to a drop in palm fruit prices, forcing farmers to cut fertiliser use and further reducing palm fruit production.
SCMP
---
Indonesian palm oil export ban begins: Here’s how it will impact India
Edible oils such as palm oil are a key raw material for the FMCG and food industries; a rise in their prices can increase prices across the board
Indonesia, the world’s largest producer of palm oil, has announced a ban on exports to contain edible oil prices in their domestic market. The ban, which came into effect on Thursday (April 27), also includes crude palm oil, which was earlier exempted.
India’s nearly 50% of total palm oil requirement annually is fulfilled by Indonesia. Malaysia and Indonesia are the major suppliers of palm oil to India. In 2020-21, India imported 133.5 lakh tonnes of edible oil, out of which the share of palm oil was around 56%.
The export ban has trapped at least 290,000 tonnes of the edible oil meant to be headed to India at ports and oil mills in Indonesia, a Reuters report said on Thursday, quoting industry officials. “Our vessel of 16,000 tonnes is stuck at Kumai port in Indonesia,” the report quoted Pradeep Chowdhry, managing director of Gemini Edibles & Fats India Pvt Ltd, which buys around 30,000 tonnes of Indonesian palm oil every month, as saying. The Federal
---
Crisis looms as Indonesia export ban halts palm oil shipments
Indonesia’s wider palm oil export ban has trapped at least 290,000 tonnes of the edible oil meant to be headed to India at ports and oil mills in the world’s top producer, four industry officials said on Thursday.
The disruption in shipments after Indonesia widened its export ban to include crude and refined palm oil will create a vegetable oil shortage in top importer India, the officials said. Second-biggest exporter Malaysia is already struggling to meet higher demand levels and is asking for near record prices for prompt shipments, they said. Tribune India
---
At South Korea's fried chicken diners, palm oil squeeze feeds inflation fears
LEE’S diner, a cheap-and-cheerful fried chicken shop near central Seoul, has held firm against raising prices for a decade and a half.
But now, Lee says, Indonesia’s cooking oil export ban and its costly squeeze on prices have been the last straw: He expects to follow larger chains of South Korea’s ubiquitous chimaek fried chicken-and-beer outlets that are raising prices, even if he risks losing customers.
Lee’s dilemma highlights the perilous path ahead for policymakers in Asia’s fourth-largest economy, where worries over cost-push inflation prompted a surprise rate hike this month with both inflation rates and expectations at their highest in a decade. Business TimesSG
---
Indonesia's palm oil export ban signals a win for Malaysian upstream players, say analysts
KUALA LUMPUR (April 28): The Indonesian government’s strict measure of banning all palm oil exports would likely cause Indonesian plantation players to suffer, while pure upstream players as well as those with downstream capacities in Malaysia would emerge as winners, according to investment analysts.
RHB Investment Bank Bhd (RHBIB), which has maintained a “neutral” stance on the plantation sector, said the ban would worsen the pressure on inflation and further encourage hoarding activities.
In its research note on Thursday (April 28), it advocated a trading strategy of buying the winners — pure planters in Malaysia, namely Sarawak Oil Palms Bhd (SOP) and Ta Ann Holdings Bhd — and said downstream players in Malaysia with no exposure to Indonesia, such as IOI Corporation Bhd and Genting Plantations Bhd, would also benefit given the lack of competition from the latter. The Edge Markets
---
Indonesia industry body confident palm oil export ban could end in May
He added that a palm oil export target of 34 million tonnes in 2022 would be met
Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets.
The world's top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices.
Sahat Sinaga, senior official at the Indonesian Palm Oil Board, said that decision had shocked the industry, but that he was confident the supply issue could be resolved not long after the Muslim festival of Eid al-Fitr in early May. Business Standard
---
Indonesian palm oil traders curse policy reversal
Indonesian palm oil traders said they have been sideswiped by yet another last-minute policy U-turn from their government.
After announcing on 26 April the latest palm oil export ban will only include refined, bleached or deodorised (RBD) palm olein, the Co-ordinating Ministry of Economic Affairs said on 27 April that crude and refined palm oil, used cooking oil (UCO) and palm oil mill effluent (Pome) will also be banned.
The injunction begins midnight on 28 April until domestic bulk cooking oil costs fall below 14,000 rupiah/litre ($1/l).
The constant switching in policy direction, which started with a domestic market obligation in January, replaced with higher export levies in March and now an outright ban, has left market participants in turmoil and wreaked havoc with supply chain logistics. Argus Media
---
Indonesia - Palm oil export ban could cost state $1.4b a month
The government-imposed ban on exports of crude palm oil and refined, bleached and deodorized (RBD) palm olein is expected to cause significant revenue loss for Indonesia. Andrian Bagus Santoso, an economist with state-owned Bank Mandiri, said he expected the state to forgo revenue to the tune of US$1.4 billion should the ban be maintained for a full month. That estimate is based on an average 1.06 million tons of RBD palm olein exported each month at $1,300 per ton.
The Jakarta Post
---
INDONESIA NAVY SEIZES 2 TANKERS CARRYING PALM OIL
JAKARTA, April 28 (Reuters) - Indonesia's navy seized two tankers carrying crude palm oil, palm olein and methanol for what it said were permit and paperwork violations, in an operation conducted a day before a palm oil export ban took effect, it said on Thursday.
MT World Progress violated vessel specifications in its travel document, while the other ship, MT Annabelle carried methanol without a permit, said the navy, which has been deployed to enforce the export ban, which took effect midnight Wednesday.
MT World Progress was traveling from Dumai on Sumatra island towards India carrying 34,854.3 tonnes of palm olein, while MT Annabelle was seized off Borneo island, heading to Shajrah in the United Arab Emirates, the statement said. Agriculture
---
Indonesia - Small Indonesian palm oil planters already hit by new export ban
SMALL Palm oil planters in Indonesia have enjoyed big paycheques in the past year as global vegetable oil prices surged, but these farmers fear they will bear the brunt of the pain from a new export ban coming into effect on Thursday.
From April 28, the world’s top palm oil producer will ban exports of refined, bleached and deodorised (RBD) palm olein, which are made by crushing palm fruit and processing it to remove impurities.
President Joko Widodo announced the ban last Friday to help lower soaring domestic prices, and local farmers said prices of fresh palm fruit bunches have already plunged in Kampar, Riau Province on Sumatra island. Business TimesSG
---
India, Indonesia to soon hold talks on palm oil supplies
In a relief for the edible oil prices in India, Indonesia, the world’s largest producer of palm oil, has clarified that its export ban won’t be applicable to crude or refined palm oil. The ban is limited to only refined, bleached, deodorized (RBD) palmolein.
Stating this, Indian government officials told Business Today TV that India and Indonesia will soon hold talks on the issues of palm oil supplies.
The development has come as positive for Indian edible oil prices. On his part, B.V Mehta, Executive Director, Solvent Association of India (SEA) said, “It has come as a relief as Indonesia has announced that they will restrict only RBD Palmolein and freely allow exports of crude and refined palm oil." Business TodayIN
---
Indonesia may widen palm export ban to combat shortages
---
Indonesia govt meets cooking oil producers over palm oil -source
JAKARTA, April 26 (Reuters) - Indonesia's economic affairs ministry is holding a meeting with cooking oil producers on Tuesday to discuss an export ban on cooking oil and its palm oil raw material, according to an industry source and a copy of the invitation seen by Reuters. Nasdaq
---
Malaysia - Future-proof palm oil from adverse Western propaganda
The push by developed economies against palm oil – the most produced, consumed and traded edible oil – in favour of protecting the soybean (the second most-produced edible oil) trade is well-known.
The European Union (EU) Parliament has voted for palm oil-based biofuels to be banned entirely by 2021. In contrast, other crop-based biofuels will be capped at 7% and enjoy a gradual reduction to 3.8% by 2030. Free Malaysia Today
---
Malaysia in the driver’s seat
PETALING JAYA: Plantation Industries and Commodities deputy minister Datuk Seri Dr Wee Jeck Seng said Indonesia’s move to ban exports of palm oil would have a huge impact on Malaysia as the second largest producer of the commodity.
Wee said that the ministry would have to study the matter closely and look at the long and short-term effects on Malaysia.
“In the short term, the price of palm oil is expected to see a sudden huge spike. On top of that, Malaysia, as the second largest producer of palm oil after Indonesia, would have to now fill in the gap in demand.
“With the issue of lack of manpower that we are facing, there is a limit on the volume of palm oil we could produce and export. It will be a challenge for us to cope with the demand,” he said, adding that Malaysia produced some 18 million tonnes of palm oil in 2021. The StarMY
---
Indonesia to Allow Key Palm Oil Exports, Sparking Price Swings
Indonesia will only halt exports of bulk and packaged RBD palm olein, a higher value product that has been processed. Exports of crude palm oil and RBD palm oil will still be allowed, according to people familiar with the matter. RBD olein accounts for 30% to 40% of Indonesia’s total palm oil exports.
Benchmark futures initially rallied after Indonesia said Friday that a shipment halt on all cooking oil will start from April 28 and last until the government deems a domestic shortage resolved. The announcement came as a shock to the market as a complete ban would worsen global food inflation and aggravate volatility in crop markets still reeling from the war. Yahoo/ Bloomberg
---
Shares of top Indonesian palm oil companies tumble after export ban
JAKARTA — Shares of some of Indonesia’s biggest palm oil companies fell on Monday after the government announced it would ban exports of cooking oil and its raw material starting April 28 to try to bring down domestic prices. Astra Agro Lestari and Triputra Agro Persada suffered shares losses of more than 6%, while Salim Invomas Pratama dropped 5.5% and Sinar Mas Agro Resources and Technology slid 2.75% soon after Monday’s market opening. Leader Post
---
Malaysia says can meet global demand after Indonesia bans palm oil exports
MALAYSIA is confident it can meet global demand for palm oil after Indonesia’s announcement that it has banned exports of the commodity, said Plantation Industry and Commodities Minister Zuraida Kamaruddin.
“I am confident that Malaysia is ready and able to supply palm oil to global markets because our production is expected to rise following border reopenings, which has enabled the hiring of foreign workers,” she told the media after handing over aid to 17 suraus and two mosques, as well as 350 families comprising asnaf, single mothers and senior citizens in an event organised by the Malaysian Timber Council. The Malaysian Insight
---
Malaysia - Plantation stocks top gainers on Bursa after Indonesia banned palm oil exports
KUALA LUMPUR (April 25): Plantation stocks on the local bourse dominated the top gainer list on Monday morning (April 25) as Indonesia’s move to ban palm oil exports is seen to benefit Malaysian planters.
At the time of writing, Kuala Lumpur Kepong Bhd (KLK) was the top gainer by value, surging RM1.56 or 5.57% to RM29.56, followed by its 47.43%-owned associate Batu Kawan Bhd that jumped RM1.20 or 4.32% to RM29.
In the third place was BLD Plantation Bhd that soared RM1 or 11.11% to RM10, while in the fourth place was Sarawak Oil Palms Bhd which gained 69 sen or 10.76% to RM7.10. The Edge Markets
---
IPCC report warns food systems must deliver decisive low-carbon shift
A new report by the United Nation’s (UN) climate science panel has warned that countries, companies and individuals need to increase efforts to reduce greenhouse gas emissions (GHGs) from agriculture, farming and forestry if these sectors are to play a meaningful role in slowing the pace of climate change, AgriCensus wrote.
With the planet’s population approaching 8bn and surging demand for key protein crops such as soyabean, the urgency for change has increased, according to the report by the Intergovernmental Panel on Climate Change (IPCC).
“Agriculture provides the second-largest share of the mitigation potential… from cropland and grassland soil carbon management, agro-forestry, use of biochar, improved rice cultivation, and livestock and nutrient management,” the IPCC report said. OFI Magazine
---
Britain moves ahead with mandatory climate plans for companies
LONDON (April 25): Britain unveiled a new task force on Monday to write rules forcing financial firms and listed companies to publish plans from next year for transitioning to a net zero economy by 2050.
Last November at the COP26 UN Climate Summit, British finance minister Rishi Sunak said companies would have to publish a plan from 2023 with targets to mitigate climate risk, interim goals between now and 2050, and measures to meet them.
It is part of Britain's commitment to making the UK the world's first net-zero aligned financial centre. The Edge Markets
---
Will Indonesia's Ban on Palm Oil Exports Derail Renewable Diesel Growth in the U.S.?
Soybean oil prices hit nearly limit up in overnight trading after Indonesia announced it will effectively ban palm oil exports as of April 28 due to soaring domestic prices.
While no timeline was given on the announced export ban, Indonesia said the ban on palm oil exports will be until further notice. The news sent soybean oil shooting higher, with CBOT hitting a record high of 83.21 cents per pound.
The Reality of Palm Oil Supplies
While some called the ban “totally unexpected,” Indonesia made a similar move earlier this year. In January, the country restricted palm oil exports, which was then lifted in March. AgWeb
---
Indonesia bans palm oil export, world to face jitters
The decision to ban palm oil export by Indonesia has triggered price shockwaves across the globe.
Indonesia has decided to ban the export of palm oil from April 28, the country’s President Joko Widodo announced on Friday. Widodo said the decision has been taken to control skyrocketing domestic prices and ensure availability of food products at home. “I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable,” he said in a video address.
Indonesia is the world’s biggest exporter of palm oil. On February 21, we had reported how one litre of palm oil was selling for up to Rs 22,000 Indonesian rupiah! The country introduced restrictions on palm oil exports in late January, but lifted them in March – a move that sent global prices to historic highs. DNA
---
Factbox: From spreads to shampoo, palm oil is part of everyday life
April 22 (Reuters) - Indonesia's plan to ban palm oil exports will deal a blow to the world's top food and consumer products companies including Unilever (ULVR.L), Procter & Gamble (PG.N) and Nestle (NESN.S).
Indonesia counts for more than half of the global supply of the edible oil, which is used in everything from cakes, chocolate, margarine and frying fats to cosmetics, soap, shampoo and cleaning products. read more
---
Certified Sustainable Palm Derivatives: The Hero Ingredients For More Eco-Friendly Cleaning And Beauty Products
The cosmetic and home sectors are responding to consumer demands for sustainable, eco-friendly products with innovative solutions that use less packaging and less water to reduce environmental impact.
As consumer awareness of environmental and social issues increases, companies are under more pressure to ensure greater transparency in supply chains, especially those from agroforestry.
It is estimated that at least 70% of all cosmetics contain palm kernel oil or palm kernel derivatives.
ESM
---
US - Biden Earth Day action targets protecting old-growth forests from wildfires, climate change
WASHINGTON – President Joe Biden will mark Earth Day in Seattle on Friday by announcing new steps to make the nation’s forests more resilient against the threat of wildfires and climate change.
Biden will sign an executive order that seeks to protect some of the nation’s largest and more mature trees, strengthen reforestation efforts and fight global deforestation.
Specially, the order will call for the government to undertake the first-ever inventory of mature and old-growth forests on federal lands, said senior administration officials who described the actions on the condition of anonymity. USA Today
---
EU - Will the EU abandon its 'green policy' for Southeast Asia?
The EU was struggling to bring Southeast Asia onboard with its environmental policies even before the Ukraine war began, but that conflict has further complicated Brussels' efforts to make its own supply chains greener.
In 2020, Indonesia brought a case against the EU to the World Trade Organization (WTO) over its phased banning of imports of palm oil, which Brussels says is a leading driver of deforestation across the world.
Indonesia and Malaysia, which supports the case, are the world's two largest producers of the product. Sources within the EU think that the WTO ruling will be held at the end of the year.
But war in Ukraine has driven up demand for palm oil again. Russia and Ukraine are the world's biggest producers of sunflower oil, which was being used by many European companies as the main replacement as they removed palm oil from their supply chains. But the conflict has markedly reduced the amount of sunflower oil on the global market. DW
---
Biofuel feedstocks suffer as sunflower supplies from Ukraine dry up
Russia’s war in Ukraine has hit the supply of almost half of the world’s sunflower oil exports.
Shipments of sunflower oil - and seeds used by crushers elsewhere - have ground to a halt amid the war, disrupting supplies of the commodity used in biofuel production.
The shortage of Ukrainian sunflower oil has triggered a domino effect that underscores how interconnected global commodity markets are pushing up the price of other oils produced elsewhere. Biofuels News
---
Indonesia Bans Exports of Edible Oil Amid Local Shortage
(Bloomberg) -- Indonesia has decided to ban all exports of raw material for cooking oil, said President Joko Widodo.
The policy will be effective from April 28 until the local shortage is resolved, Jokowi, as the president is known, said in a Friday briefing. Most of the country’s cooking oil is made of palm oil products. BNN Bloomberg
---
Malaysia - Sime Darby Plantation to submit impact report to US CBP by end-April
KUALA LUMPUR (April 21): Sime Darby Plantation Bhd (SDP) expects to deliver its impact report submission to the United States Customs and Border Protection (CBP) — which will go towards lifting the Withhold Release Order (WRO) imposed on the company since December 2020 — by the end of this month.
SDP group managing director Mohamad Helmy Othman Basha admitted that the group missed its original targeted timeline to submit the report, which was previously set for the end of the first quarter of 2022.
“It is delayed but I am happy to say that we are ready to submit it by the end of April. We have also made a few announcements on the works, given the delay due to Covid, as all the works involved had to be done physically, like the assessments whereby our people and the assessors had to travel. The Edge Markets
---
Malaysia to meet CPB and EU by July to clarify forced labour assumptions
KUALA LUMPUR: Malaysia is seeking meetings with the United States Customs and Border Protection(CBP) and the European Union (EU) by July to set the record straight on forced labour allegations.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said this was to address the fallout from withhold release orders (WROs) issued by the CPB to FGV Holdings Bhd and Sime Darby Plantations Bhd (SD Plantation) in 2020.
The WRO effectively bans the companies which are major oil palm producers from exporting their supplies to the US which is a top consumer of the commodity. New Straits Times
---
Liberia - MOA Launches National Oil Palm Strategy And Action Plan
Through the National Oil Palm Platform of Liberia, the Ministry of Agriculture has launched a National Oil Palm Strategy and Action Plan (NOPSAP) to guide sustainable oil palm development for the next five years 2021-2026.
The NOPSAP was developed through a multi-stakeholders participatory process with support from UNDP and Proforest. Other development partners, including Good Growth Partnership Project (GGP), Proforest, through the African Palm Oil Conservation International, Solidaridad, Flora, and Fauna International, STAR-P/World Bank, IDH-Sustainable Trade Initiative, provided technical and financial support for the development of the NOPSAP.
“Oil palm is an important tree crop in Liberia that covers more than one million hectares. About 21.1% of the farming household produce palm oil, and more than 220,000 people are employed in the palm sector. But worldwide, oil palm production is given little value, and Liberia needs more effort for the sector’s integrity, maintenance and amelioration,” said Jeanine M. Cooper, Minister of Agriculture. Liberia Observer
---
Liberia to review ArcelorMittal concession agreement
Liberia will review its iron ore concession agreement with steel and mining company ArcelorMittal as well as other concessions signed by the West African country’s current and previous governments, Parliament speaker Bhofal Chambers said on Thursday.
The announcement risks disrupting ArcelorMittal’s plans to triple its iron ore production in Liberia and stay in the country for at least 25 more years, which the government had agreed to in September.
Mining
---
UK - Suppliers warn ‘just days left’ to tackle oil shortages, as government drags feet on palm decision
Major suppliers have warned they have “just days” of sunflower oil supplies left, as emergency talks called on the government to relax rules on the controversial use of palm oil as a substitute.
Industry leaders met with Defra yesterday, but were told the government was still not ready to allow the so-called derogation of enforcement on labelling rules, amid concerns over the prospect of a consumer backlash.
Shortages of sunflower oil saw the government allow suppliers to start using rapeseed oil in recipes without the need for labelling changes earlier this month. However, sources told The Grocer ministers had been “dragging their feet” over calls for the same to apply to palm oil. The Grocer UK
---
Indonesia - Collaborating for Sustainability: Musim Mas Group & Sinar Mas Agribusiness and Food Host Second Joint Supplier Workshop in Aceh, Indonesia
April 19, 2022 /3BL Media/ - Palm oil is the most widely-consumed and efficient vegetable oil. Its application ranges from food products to cosmetics and even industrial uses. To produce it sustainably, leading palm oil producers commit to “No Deforestation, No Peat, and No Exploitation (NDPE)”, sustainability certifications, and “Traceability to Plantation (TTP)”.
To advance knowledge-sharing on palm oil sustainability, on 29 to 30 March, palm oil majors Musim Mas Group and Sinar Mas Agribusiness and Food jointly hosted their second supplier workshop and Focus Group Discussion (FGD) in Langsa, and Kuala Simpang, Aceh. It was attended by 55 participants, consisting of representatives of supplier mills, local traders and farmers, government officials, and civil society organizations (CSO). Yahoo Finance
---
Trade Balance Indonesia: Exports Soar Thanks to Coal & Palm Oil Shipments, Imports Rebound
Both Indonesia’s export and import performance was quite amazing in March 2022. While we expected imports to rebound ahead of the start of the Ramadan month (on 1 April 2022), a month that typically gives rise to a big increase in consumption, we did underestimate Indonesia’s export performance in last month’s forecast.
Based on the latest data released by Statistics Indonesia (in Indonesian: Badan Pusat Statistik, or BPS) on 18 April 2022, Indonesia’s export and import performance both touched new all-time record high levels in March 2022.
In this article we are going to take a look at the factors that explain this performance while also taking another look at the disrupted trade flows between Indonesia and Ukraine/Russia. Indonesia Investments
---
China exports to North Korea surge with edible oil, wheat flour in demand as trade resumes
BEIJING — China’s exports to North Korea surged in January-March with sales of edible oil, wheat flour and pharmaceutical compounds to its reclusive neighbor sky-rocketing after a COVID-induced pause, Chinese customs data showed on Wednesday.
North Korea bought $16.4 million of soybean oil, $5.1 million of palm oil, $4.3 million of wheat flour and $4.1 million of soda in the first quarter, the customs data showed. Reuters
---
Indonesia probes Wilmar staff, trade ministry in palm oil corruption case
JAKARTA (BLOOMBERG) - Indonesia has detained suspects including the commissioner of a Wilmar International unit and a senior trade ministry official as part of a corruption case involving palm oil exports.
The commissioner of Wilmar Nabati Indonesia with initials MPT and the Trade Ministry's director-general of foreign trade with initials IWW have been detained after being named suspects in the case along with two other people, said Attorney-General S. T. Burhanuddin.
The case involves the approval of export permits that did not meet requirements and a lack of local palm oil distribution as required by the domestic market obligation (DMO) rule, he added. Straits Times
---
Egypt, Malaysia discuss strengthening investment cooperation
Mohamed Abdel Wahab — CEO of the General Authority for Investment and Free Zones (GAFI) — and Malaysian Minister of Industries Zuraida Qamar Al-Din, along with his accompanying delegation of representatives from various industrial councils discussed ways to enhance investment cooperation between the two countries.
They also studied opportunities to establish new Malaysian investments in Egypt as well as discussed mechanisms for the participation of businessmen from the two countries in joint projects.
Abdel Wahab noted that both sides aspire to see Egypt as a major centre for the manufacture and export of Malaysian palm oil to countries of the region, and to benefit from Egypt’s comparative advantages and free trade agreements with Arab, African, and European countries. Daily News Egypt
---
Sam’s Club to Produce its Private Label Products More Ethically and Sustainably
Seeking to make its Member’s Mark private label line more responsible, Sam’s Club is planning to bring additional environmental, ethical and social concerns to bear in manufacturing these products. Following the lead of parent company Walmart, which in 2020 outlined plans to become a regenerative company, Sam’s Club began taking steps that year to develop Member’s Mark under the principle of being “Made with Our Members and Planet in Mind” as it launched, redesigned and reformulated more than 1,200 products.
The updated mission includes removing certain ingredients from Member’s Mark food and consumable products in addition to introducing goods made through responsible practices, including: production and sourcing linked to incorporating renewable sources; promoting animal welfare; supporting land and ocean health; reducing deforestation; and using more sustainable textiles. Through incorporating more recyclable, reusable and industrially compostable components, Sam’s Club aims to reduce its environmental footprint. Retail Touch Points
---
Brazil - Vibra expands BBF partnership to include palm-based SAF
SAO JOAO DA BALIZA, Brazil, April 13 (Reuters) – Brazilian fuel distributor Vibra Energia SA (VBBR3.SA) has tapped an existing partnership with Brasil BioFuels (BBF) to move into producing and selling palm oil-based jet fuel as it looks to take another step in the energy transition.
Vibra, formerly known as Petrobras Distribuidora SA, has agreed to sell aviation fuel to be produced at BBF’s Manaus biorefinery, which was already set to provide the company with renewable diesel.
The move has prompted BBF to invest an additional 200 million reais ($43 million) in the venture, which will use oil from palms planted in the Amazon location of Roraima, Brazil’s northernmost state, as raw material.
Vibra, the country’s largest fuel distributor, has chosen to base the new venture in the city of Sao Joao da Baliza, known for its tropical rainforest climate, ideal for palm planting. Brasil Biofuels
---
US - Fuji Vegetable Oil Celebrates Grand Opening in Jefferson Parish
AVONDALE, La – From the Jefferson Parish Economic Development Commission:
JEDCO, in coordination with Jefferson Parish and Louisiana Economic Development, celebrated the grand opening of Fuji Vegetable Oil’s new processing facility in Avondale on Wednesday. The global specialty oil and fat producer broke ground in late 2018 on a $70 million food processing, storage, and distribution complex on property owned by International-Matex Tank Terminals (IMTT) with construction completed in August 2021. The company created 45 direct jobs with an average annual salary of $77,000, plus benefits.
Founded in 1987, Fuji Vegetable Oil is a leader in the production of ingredients for the commercial food industry. Fuji’s fats and oils are used in a variety of industries and can be found in a wide array of products, including desserts, infant formula, frying fats, and soaps. Biz New Orleans
---
Malaysia - Sime Darby Plantation transforms palm oil mills into food safety facilities
KUALA LUMPUR (April 18): Sime Darby Plantation Bhd (SDP) is transforming all 33 of its Malaysian palm oil mills into certified food safety facilities by the end of 2023, after which the same standards will be applied across the group's operations in Indonesia, Papua New Guinea, and the Solomon Islands.
Under this exercise, it said mill safety and sustainability standards will be raised to meet stringent international food production standards, said the plantation group in a statement on Monday (April 18).
"We have redesigned plantations by mechanising, automating and digitalising several aspects of work that have always been done manually." The Edge Markets
---
Indonesia launches corruption case over palm oil exports
JAKARTA, April 19 (Reuters) - Indonesian authorities have opened a corruption case linked to the issuance of palm oil export permits, naming four suspects including a trade ministry official and palm oil company executives, the attorney general said on Tuesday.
The move comes as the government in Indonesia, which is the world's top palm oil producer, has faced pressure to control soaring cooking oil prices. Authorities between late January and the middle of March restricted exports of palm oil and its derivatives, requiring companies to meet demand at home before they were allowed to export.
Reuters
---
Cargill Suspends Palm Oil Purchases From Malaysia’s Sime Darby
Cargill Inc., one of the word’s biggest agricultural traders, stopped buying palm oil products from Sime Darby Plantation Bhd. after the U.S. said it found indicators of forced labor in the Malaysian grower. Cargill has suspended all new sourcing of palm oil and derivative products from Sime Darby since Feb. 25, the world’s biggest oil palm planter by acreage said in an emailed response.
Read more at: https://www.bloombergquint.com/business/cargill-suspends-palm-oil-purchases-from-malaysia-s-sime-darby
---
Ferrero and Cargill palm oil bans to have minimal financial impact on Sime Darby Plantation, says HLIB
KUALA LUMPUR (April 18): Hong Leong Investment Bank (HLIB) Research said that Ferrero and Cargill Inc moves to stop buying palm oil from Sime Darby Plantation Bhd (SDP) should have minimal financial impact on the company as the firm should be able to divert its products elsewhere amid tight supply of vegetable oils.
In a note on Monday (April 18), HLIB analyst Chye Wen Fei said that while the latest decisions by Ferrero and Cargill Inc had reignited investors’ environmental, social and governance (ESG) concerns over SDP, the impact on its share price (which retraced by 4.3% last Friday) was likely a knee-jerk reaction.
According to her, this is because the financial impact on SDP should be minimal as she believes SDP would be able to divert its products elsewhere, given the tight supply of vegetable oils, and the company had already taken the necessary steps to address these ESG concerns as evident by its recent implementation of a continuous improvement plan to address the 11 International Labour Organization indicators of forced labour. The Edge Markets
---
Malaysia - Speedier submission of evaluation reports urged
PETALING JAYA: Affected local planters, whose palm oil products are banned by the United States Customs and Border Protection (CBP) on forced labour allegations, must speed up the submission of their independent evaluation reports to the relevant US authorities.
According to industry consultant M R Chandran, a potential delay in publishing the independent reports could cause uneasiness among US buyers and users, thus leading to a boycott or suspension on the origin palm oil products.
“In fact, such delays have already led to a knee-jerk reaction by some big names such as Cargill Inc, Hershey Co, General Mills Inc and the latest being Italian confectionery giant Ferrero to boycott the purchase of palm oil products from the affected Malaysian planters,” he told StarBiz recently. The StarMY
---
Liberia: Government Launches 5-Year Strategy and Action Plan for Oil Palm
The Government of Liberia through the Ministry of Agriculture (MOA) has launched the National Oil Palm Strategy and Action Plan (NOPSAP), identifying oil palm as one of the priority crops to spur agricultural growth and development under Pillar II of its Pro-Poor Agenda for Prosperity and Development (PAPD).
The Ministry of Agriculture on Thursday, April 14, 2022, officially launched the five-year strategy and action plan on oil palm production in the country at Corina Hotel in Sinkor, Monrovia.
Agriculture Minister, Jeanine M. Cooper, at the launch said the initiative is important but stressed a need for the establishment of an oil palm development fund. All Africa
---
EU - European Union undermining its trade with south-east Asia: Report
Brussels [Belgium], April 16 (ANI): After decades of support for globalization and free trade, the European Union (EU), in recent times has started adopting an inward approach which is impacting its trade with south-east Asia in particular, a media report said.
In the 2022 State of Southeast Asia survey, produced annually by the ISEAS-Yusof Ishak Institute in Singapore, when the region’s opinion-formers were asked who they considered the leading champion of free trade, the EU fell to fourth place, several percentage points behind China, Asia Times reported.
The fall in EU’s approval ratings with regard to free trade is an ongoing trend since 2019 with analysts pointing out that the fall in ratings stems from the EU’s own actions, the report said. The PrintIN
---
Malaysia - Ferrero overlooks Sime Darby Plantation's sustainable palm oil production
KUALA LUMPUR (April 17): While the knee-jerk reaction on the part of multinational corporations like Ferrero to stop buying palm oil products from Sime Darby Plantation Bhd (SDP) is regrettable, they seem to have overlooked the fact that SDP is the largest producer of Roundtable on Sustainable Palm Oil (RSPO)-certified sustainable palm oil globally.
"One should ask what is Ferrero's ultimate objective in announcing publicly their decision to stop buying SDP origin palm derivatives? If it is to win brand loyalty, then it is a nice storyline packed with chicanery," MR Chandran, a veteran of the agro-commodity industry, said.
Nevertheless, he said the multinational confectionery company is a major user of RSPO-certified palm products, thus, they had many avenues to explore before taking this extreme action to boycott SDP products. The Edge Markets
---
Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets. The world's top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices. Sahat Sinaga, senior official at the Indonesian Palm Oil Board, said that decision had shocked the industry, but that he was confident the supply issue could be resolved not long after the Muslim festival of Idul Fitri in early May. The Jakarta Post
---
Indonesian farmers hit by palm oil export ban, imposed to curb shortage
Indonesian President Joko Widodo, known as Jokowi, widened a ban on palm oil exports on April 28, 2022, days after announcing a partial ban to curb domestic cooking oil shortage and food inflation.
Owners of small plantations in the town of Kampar, Riau province, began feeling the brunt of the export ban even before it took effect. One farmer said that the ban has led to a drop in palm fruit prices, forcing farmers to cut fertiliser use and further reducing palm fruit production.
SCMP
---
Indonesian palm oil export ban begins: Here’s how it will impact India
Edible oils such as palm oil are a key raw material for the FMCG and food industries; a rise in their prices can increase prices across the board
Indonesia, the world’s largest producer of palm oil, has announced a ban on exports to contain edible oil prices in their domestic market. The ban, which came into effect on Thursday (April 27), also includes crude palm oil, which was earlier exempted.
India’s nearly 50% of total palm oil requirement annually is fulfilled by Indonesia. Malaysia and Indonesia are the major suppliers of palm oil to India. In 2020-21, India imported 133.5 lakh tonnes of edible oil, out of which the share of palm oil was around 56%.
The export ban has trapped at least 290,000 tonnes of the edible oil meant to be headed to India at ports and oil mills in Indonesia, a Reuters report said on Thursday, quoting industry officials. “Our vessel of 16,000 tonnes is stuck at Kumai port in Indonesia,” the report quoted Pradeep Chowdhry, managing director of Gemini Edibles & Fats India Pvt Ltd, which buys around 30,000 tonnes of Indonesian palm oil every month, as saying. The Federal
---
Crisis looms as Indonesia export ban halts palm oil shipments
Indonesia’s wider palm oil export ban has trapped at least 290,000 tonnes of the edible oil meant to be headed to India at ports and oil mills in the world’s top producer, four industry officials said on Thursday.
The disruption in shipments after Indonesia widened its export ban to include crude and refined palm oil will create a vegetable oil shortage in top importer India, the officials said. Second-biggest exporter Malaysia is already struggling to meet higher demand levels and is asking for near record prices for prompt shipments, they said. Tribune India
---
At South Korea's fried chicken diners, palm oil squeeze feeds inflation fears
LEE’S diner, a cheap-and-cheerful fried chicken shop near central Seoul, has held firm against raising prices for a decade and a half.
But now, Lee says, Indonesia’s cooking oil export ban and its costly squeeze on prices have been the last straw: He expects to follow larger chains of South Korea’s ubiquitous chimaek fried chicken-and-beer outlets that are raising prices, even if he risks losing customers.
Lee’s dilemma highlights the perilous path ahead for policymakers in Asia’s fourth-largest economy, where worries over cost-push inflation prompted a surprise rate hike this month with both inflation rates and expectations at their highest in a decade. Business TimesSG
---
Indonesia's palm oil export ban signals a win for Malaysian upstream players, say analysts
KUALA LUMPUR (April 28): The Indonesian government’s strict measure of banning all palm oil exports would likely cause Indonesian plantation players to suffer, while pure upstream players as well as those with downstream capacities in Malaysia would emerge as winners, according to investment analysts.
RHB Investment Bank Bhd (RHBIB), which has maintained a “neutral” stance on the plantation sector, said the ban would worsen the pressure on inflation and further encourage hoarding activities.
In its research note on Thursday (April 28), it advocated a trading strategy of buying the winners — pure planters in Malaysia, namely Sarawak Oil Palms Bhd (SOP) and Ta Ann Holdings Bhd — and said downstream players in Malaysia with no exposure to Indonesia, such as IOI Corporation Bhd and Genting Plantations Bhd, would also benefit given the lack of competition from the latter. The Edge Markets
---
Indonesia industry body confident palm oil export ban could end in May
He added that a palm oil export target of 34 million tonnes in 2022 would be met
Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets.
The world's top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices.
Sahat Sinaga, senior official at the Indonesian Palm Oil Board, said that decision had shocked the industry, but that he was confident the supply issue could be resolved not long after the Muslim festival of Eid al-Fitr in early May. Business Standard
---
Indonesian palm oil traders curse policy reversal
Indonesian palm oil traders said they have been sideswiped by yet another last-minute policy U-turn from their government.
After announcing on 26 April the latest palm oil export ban will only include refined, bleached or deodorised (RBD) palm olein, the Co-ordinating Ministry of Economic Affairs said on 27 April that crude and refined palm oil, used cooking oil (UCO) and palm oil mill effluent (Pome) will also be banned.
The injunction begins midnight on 28 April until domestic bulk cooking oil costs fall below 14,000 rupiah/litre ($1/l).
The constant switching in policy direction, which started with a domestic market obligation in January, replaced with higher export levies in March and now an outright ban, has left market participants in turmoil and wreaked havoc with supply chain logistics. Argus Media
---
Indonesia - Palm oil export ban could cost state $1.4b a month
The government-imposed ban on exports of crude palm oil and refined, bleached and deodorized (RBD) palm olein is expected to cause significant revenue loss for Indonesia. Andrian Bagus Santoso, an economist with state-owned Bank Mandiri, said he expected the state to forgo revenue to the tune of US$1.4 billion should the ban be maintained for a full month. That estimate is based on an average 1.06 million tons of RBD palm olein exported each month at $1,300 per ton.
The Jakarta Post
---
INDONESIA NAVY SEIZES 2 TANKERS CARRYING PALM OIL
JAKARTA, April 28 (Reuters) - Indonesia's navy seized two tankers carrying crude palm oil, palm olein and methanol for what it said were permit and paperwork violations, in an operation conducted a day before a palm oil export ban took effect, it said on Thursday.
MT World Progress violated vessel specifications in its travel document, while the other ship, MT Annabelle carried methanol without a permit, said the navy, which has been deployed to enforce the export ban, which took effect midnight Wednesday.
MT World Progress was traveling from Dumai on Sumatra island towards India carrying 34,854.3 tonnes of palm olein, while MT Annabelle was seized off Borneo island, heading to Shajrah in the United Arab Emirates, the statement said. Agriculture
---
Indonesia - Small Indonesian palm oil planters already hit by new export ban
SMALL Palm oil planters in Indonesia have enjoyed big paycheques in the past year as global vegetable oil prices surged, but these farmers fear they will bear the brunt of the pain from a new export ban coming into effect on Thursday.
From April 28, the world’s top palm oil producer will ban exports of refined, bleached and deodorised (RBD) palm olein, which are made by crushing palm fruit and processing it to remove impurities.
President Joko Widodo announced the ban last Friday to help lower soaring domestic prices, and local farmers said prices of fresh palm fruit bunches have already plunged in Kampar, Riau Province on Sumatra island. Business TimesSG
---
India, Indonesia to soon hold talks on palm oil supplies
In a relief for the edible oil prices in India, Indonesia, the world’s largest producer of palm oil, has clarified that its export ban won’t be applicable to crude or refined palm oil. The ban is limited to only refined, bleached, deodorized (RBD) palmolein.
Stating this, Indian government officials told Business Today TV that India and Indonesia will soon hold talks on the issues of palm oil supplies.
The development has come as positive for Indian edible oil prices. On his part, B.V Mehta, Executive Director, Solvent Association of India (SEA) said, “It has come as a relief as Indonesia has announced that they will restrict only RBD Palmolein and freely allow exports of crude and refined palm oil." Business TodayIN
---
Indonesia may widen palm export ban to combat shortages
- Palm oil export ban to stay until prices come down
- Announcement sent global edible oil markets soaring
- Measures only apply to refined palm olein - presentation
- President's approval rating falls over cooking oil
---
Indonesia govt meets cooking oil producers over palm oil -source
JAKARTA, April 26 (Reuters) - Indonesia's economic affairs ministry is holding a meeting with cooking oil producers on Tuesday to discuss an export ban on cooking oil and its palm oil raw material, according to an industry source and a copy of the invitation seen by Reuters. Nasdaq
---
Malaysia - Future-proof palm oil from adverse Western propaganda
The push by developed economies against palm oil – the most produced, consumed and traded edible oil – in favour of protecting the soybean (the second most-produced edible oil) trade is well-known.
The European Union (EU) Parliament has voted for palm oil-based biofuels to be banned entirely by 2021. In contrast, other crop-based biofuels will be capped at 7% and enjoy a gradual reduction to 3.8% by 2030. Free Malaysia Today
---
Malaysia in the driver’s seat
PETALING JAYA: Plantation Industries and Commodities deputy minister Datuk Seri Dr Wee Jeck Seng said Indonesia’s move to ban exports of palm oil would have a huge impact on Malaysia as the second largest producer of the commodity.
Wee said that the ministry would have to study the matter closely and look at the long and short-term effects on Malaysia.
“In the short term, the price of palm oil is expected to see a sudden huge spike. On top of that, Malaysia, as the second largest producer of palm oil after Indonesia, would have to now fill in the gap in demand.
“With the issue of lack of manpower that we are facing, there is a limit on the volume of palm oil we could produce and export. It will be a challenge for us to cope with the demand,” he said, adding that Malaysia produced some 18 million tonnes of palm oil in 2021. The StarMY
---
Indonesia to Allow Key Palm Oil Exports, Sparking Price Swings
Indonesia will only halt exports of bulk and packaged RBD palm olein, a higher value product that has been processed. Exports of crude palm oil and RBD palm oil will still be allowed, according to people familiar with the matter. RBD olein accounts for 30% to 40% of Indonesia’s total palm oil exports.
Benchmark futures initially rallied after Indonesia said Friday that a shipment halt on all cooking oil will start from April 28 and last until the government deems a domestic shortage resolved. The announcement came as a shock to the market as a complete ban would worsen global food inflation and aggravate volatility in crop markets still reeling from the war. Yahoo/ Bloomberg
---
Shares of top Indonesian palm oil companies tumble after export ban
JAKARTA — Shares of some of Indonesia’s biggest palm oil companies fell on Monday after the government announced it would ban exports of cooking oil and its raw material starting April 28 to try to bring down domestic prices. Astra Agro Lestari and Triputra Agro Persada suffered shares losses of more than 6%, while Salim Invomas Pratama dropped 5.5% and Sinar Mas Agro Resources and Technology slid 2.75% soon after Monday’s market opening. Leader Post
---
Malaysia says can meet global demand after Indonesia bans palm oil exports
MALAYSIA is confident it can meet global demand for palm oil after Indonesia’s announcement that it has banned exports of the commodity, said Plantation Industry and Commodities Minister Zuraida Kamaruddin.
“I am confident that Malaysia is ready and able to supply palm oil to global markets because our production is expected to rise following border reopenings, which has enabled the hiring of foreign workers,” she told the media after handing over aid to 17 suraus and two mosques, as well as 350 families comprising asnaf, single mothers and senior citizens in an event organised by the Malaysian Timber Council. The Malaysian Insight
---
Malaysia - Plantation stocks top gainers on Bursa after Indonesia banned palm oil exports
KUALA LUMPUR (April 25): Plantation stocks on the local bourse dominated the top gainer list on Monday morning (April 25) as Indonesia’s move to ban palm oil exports is seen to benefit Malaysian planters.
At the time of writing, Kuala Lumpur Kepong Bhd (KLK) was the top gainer by value, surging RM1.56 or 5.57% to RM29.56, followed by its 47.43%-owned associate Batu Kawan Bhd that jumped RM1.20 or 4.32% to RM29.
In the third place was BLD Plantation Bhd that soared RM1 or 11.11% to RM10, while in the fourth place was Sarawak Oil Palms Bhd which gained 69 sen or 10.76% to RM7.10. The Edge Markets
---
IPCC report warns food systems must deliver decisive low-carbon shift
A new report by the United Nation’s (UN) climate science panel has warned that countries, companies and individuals need to increase efforts to reduce greenhouse gas emissions (GHGs) from agriculture, farming and forestry if these sectors are to play a meaningful role in slowing the pace of climate change, AgriCensus wrote.
With the planet’s population approaching 8bn and surging demand for key protein crops such as soyabean, the urgency for change has increased, according to the report by the Intergovernmental Panel on Climate Change (IPCC).
“Agriculture provides the second-largest share of the mitigation potential… from cropland and grassland soil carbon management, agro-forestry, use of biochar, improved rice cultivation, and livestock and nutrient management,” the IPCC report said. OFI Magazine
---
Britain moves ahead with mandatory climate plans for companies
LONDON (April 25): Britain unveiled a new task force on Monday to write rules forcing financial firms and listed companies to publish plans from next year for transitioning to a net zero economy by 2050.
Last November at the COP26 UN Climate Summit, British finance minister Rishi Sunak said companies would have to publish a plan from 2023 with targets to mitigate climate risk, interim goals between now and 2050, and measures to meet them.
It is part of Britain's commitment to making the UK the world's first net-zero aligned financial centre. The Edge Markets
---
Will Indonesia's Ban on Palm Oil Exports Derail Renewable Diesel Growth in the U.S.?
Soybean oil prices hit nearly limit up in overnight trading after Indonesia announced it will effectively ban palm oil exports as of April 28 due to soaring domestic prices.
While no timeline was given on the announced export ban, Indonesia said the ban on palm oil exports will be until further notice. The news sent soybean oil shooting higher, with CBOT hitting a record high of 83.21 cents per pound.
The Reality of Palm Oil Supplies
While some called the ban “totally unexpected,” Indonesia made a similar move earlier this year. In January, the country restricted palm oil exports, which was then lifted in March. AgWeb
---
Indonesia bans palm oil export, world to face jitters
The decision to ban palm oil export by Indonesia has triggered price shockwaves across the globe.
Indonesia has decided to ban the export of palm oil from April 28, the country’s President Joko Widodo announced on Friday. Widodo said the decision has been taken to control skyrocketing domestic prices and ensure availability of food products at home. “I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable,” he said in a video address.
Indonesia is the world’s biggest exporter of palm oil. On February 21, we had reported how one litre of palm oil was selling for up to Rs 22,000 Indonesian rupiah! The country introduced restrictions on palm oil exports in late January, but lifted them in March – a move that sent global prices to historic highs. DNA
---
Factbox: From spreads to shampoo, palm oil is part of everyday life
April 22 (Reuters) - Indonesia's plan to ban palm oil exports will deal a blow to the world's top food and consumer products companies including Unilever (ULVR.L), Procter & Gamble (PG.N) and Nestle (NESN.S).
Indonesia counts for more than half of the global supply of the edible oil, which is used in everything from cakes, chocolate, margarine and frying fats to cosmetics, soap, shampoo and cleaning products. read more
---
Certified Sustainable Palm Derivatives: The Hero Ingredients For More Eco-Friendly Cleaning And Beauty Products
The cosmetic and home sectors are responding to consumer demands for sustainable, eco-friendly products with innovative solutions that use less packaging and less water to reduce environmental impact.
As consumer awareness of environmental and social issues increases, companies are under more pressure to ensure greater transparency in supply chains, especially those from agroforestry.
It is estimated that at least 70% of all cosmetics contain palm kernel oil or palm kernel derivatives.
ESM
---
US - Biden Earth Day action targets protecting old-growth forests from wildfires, climate change
WASHINGTON – President Joe Biden will mark Earth Day in Seattle on Friday by announcing new steps to make the nation’s forests more resilient against the threat of wildfires and climate change.
Biden will sign an executive order that seeks to protect some of the nation’s largest and more mature trees, strengthen reforestation efforts and fight global deforestation.
Specially, the order will call for the government to undertake the first-ever inventory of mature and old-growth forests on federal lands, said senior administration officials who described the actions on the condition of anonymity. USA Today
---
EU - Will the EU abandon its 'green policy' for Southeast Asia?
The EU was struggling to bring Southeast Asia onboard with its environmental policies even before the Ukraine war began, but that conflict has further complicated Brussels' efforts to make its own supply chains greener.
In 2020, Indonesia brought a case against the EU to the World Trade Organization (WTO) over its phased banning of imports of palm oil, which Brussels says is a leading driver of deforestation across the world.
Indonesia and Malaysia, which supports the case, are the world's two largest producers of the product. Sources within the EU think that the WTO ruling will be held at the end of the year.
But war in Ukraine has driven up demand for palm oil again. Russia and Ukraine are the world's biggest producers of sunflower oil, which was being used by many European companies as the main replacement as they removed palm oil from their supply chains. But the conflict has markedly reduced the amount of sunflower oil on the global market. DW
---
Biofuel feedstocks suffer as sunflower supplies from Ukraine dry up
Russia’s war in Ukraine has hit the supply of almost half of the world’s sunflower oil exports.
Shipments of sunflower oil - and seeds used by crushers elsewhere - have ground to a halt amid the war, disrupting supplies of the commodity used in biofuel production.
The shortage of Ukrainian sunflower oil has triggered a domino effect that underscores how interconnected global commodity markets are pushing up the price of other oils produced elsewhere. Biofuels News
---
Indonesia Bans Exports of Edible Oil Amid Local Shortage
(Bloomberg) -- Indonesia has decided to ban all exports of raw material for cooking oil, said President Joko Widodo.
The policy will be effective from April 28 until the local shortage is resolved, Jokowi, as the president is known, said in a Friday briefing. Most of the country’s cooking oil is made of palm oil products. BNN Bloomberg
---
Malaysia - Sime Darby Plantation to submit impact report to US CBP by end-April
KUALA LUMPUR (April 21): Sime Darby Plantation Bhd (SDP) expects to deliver its impact report submission to the United States Customs and Border Protection (CBP) — which will go towards lifting the Withhold Release Order (WRO) imposed on the company since December 2020 — by the end of this month.
SDP group managing director Mohamad Helmy Othman Basha admitted that the group missed its original targeted timeline to submit the report, which was previously set for the end of the first quarter of 2022.
“It is delayed but I am happy to say that we are ready to submit it by the end of April. We have also made a few announcements on the works, given the delay due to Covid, as all the works involved had to be done physically, like the assessments whereby our people and the assessors had to travel. The Edge Markets
---
Malaysia to meet CPB and EU by July to clarify forced labour assumptions
KUALA LUMPUR: Malaysia is seeking meetings with the United States Customs and Border Protection(CBP) and the European Union (EU) by July to set the record straight on forced labour allegations.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said this was to address the fallout from withhold release orders (WROs) issued by the CPB to FGV Holdings Bhd and Sime Darby Plantations Bhd (SD Plantation) in 2020.
The WRO effectively bans the companies which are major oil palm producers from exporting their supplies to the US which is a top consumer of the commodity. New Straits Times
---
Liberia - MOA Launches National Oil Palm Strategy And Action Plan
Through the National Oil Palm Platform of Liberia, the Ministry of Agriculture has launched a National Oil Palm Strategy and Action Plan (NOPSAP) to guide sustainable oil palm development for the next five years 2021-2026.
The NOPSAP was developed through a multi-stakeholders participatory process with support from UNDP and Proforest. Other development partners, including Good Growth Partnership Project (GGP), Proforest, through the African Palm Oil Conservation International, Solidaridad, Flora, and Fauna International, STAR-P/World Bank, IDH-Sustainable Trade Initiative, provided technical and financial support for the development of the NOPSAP.
“Oil palm is an important tree crop in Liberia that covers more than one million hectares. About 21.1% of the farming household produce palm oil, and more than 220,000 people are employed in the palm sector. But worldwide, oil palm production is given little value, and Liberia needs more effort for the sector’s integrity, maintenance and amelioration,” said Jeanine M. Cooper, Minister of Agriculture. Liberia Observer
---
Liberia to review ArcelorMittal concession agreement
Liberia will review its iron ore concession agreement with steel and mining company ArcelorMittal as well as other concessions signed by the West African country’s current and previous governments, Parliament speaker Bhofal Chambers said on Thursday.
The announcement risks disrupting ArcelorMittal’s plans to triple its iron ore production in Liberia and stay in the country for at least 25 more years, which the government had agreed to in September.
Mining
---
UK - Suppliers warn ‘just days left’ to tackle oil shortages, as government drags feet on palm decision
Major suppliers have warned they have “just days” of sunflower oil supplies left, as emergency talks called on the government to relax rules on the controversial use of palm oil as a substitute.
Industry leaders met with Defra yesterday, but were told the government was still not ready to allow the so-called derogation of enforcement on labelling rules, amid concerns over the prospect of a consumer backlash.
Shortages of sunflower oil saw the government allow suppliers to start using rapeseed oil in recipes without the need for labelling changes earlier this month. However, sources told The Grocer ministers had been “dragging their feet” over calls for the same to apply to palm oil. The Grocer UK
---
Indonesia - Collaborating for Sustainability: Musim Mas Group & Sinar Mas Agribusiness and Food Host Second Joint Supplier Workshop in Aceh, Indonesia
April 19, 2022 /3BL Media/ - Palm oil is the most widely-consumed and efficient vegetable oil. Its application ranges from food products to cosmetics and even industrial uses. To produce it sustainably, leading palm oil producers commit to “No Deforestation, No Peat, and No Exploitation (NDPE)”, sustainability certifications, and “Traceability to Plantation (TTP)”.
To advance knowledge-sharing on palm oil sustainability, on 29 to 30 March, palm oil majors Musim Mas Group and Sinar Mas Agribusiness and Food jointly hosted their second supplier workshop and Focus Group Discussion (FGD) in Langsa, and Kuala Simpang, Aceh. It was attended by 55 participants, consisting of representatives of supplier mills, local traders and farmers, government officials, and civil society organizations (CSO). Yahoo Finance
---
Trade Balance Indonesia: Exports Soar Thanks to Coal & Palm Oil Shipments, Imports Rebound
Both Indonesia’s export and import performance was quite amazing in March 2022. While we expected imports to rebound ahead of the start of the Ramadan month (on 1 April 2022), a month that typically gives rise to a big increase in consumption, we did underestimate Indonesia’s export performance in last month’s forecast.
Based on the latest data released by Statistics Indonesia (in Indonesian: Badan Pusat Statistik, or BPS) on 18 April 2022, Indonesia’s export and import performance both touched new all-time record high levels in March 2022.
In this article we are going to take a look at the factors that explain this performance while also taking another look at the disrupted trade flows between Indonesia and Ukraine/Russia. Indonesia Investments
---
China exports to North Korea surge with edible oil, wheat flour in demand as trade resumes
BEIJING — China’s exports to North Korea surged in January-March with sales of edible oil, wheat flour and pharmaceutical compounds to its reclusive neighbor sky-rocketing after a COVID-induced pause, Chinese customs data showed on Wednesday.
North Korea bought $16.4 million of soybean oil, $5.1 million of palm oil, $4.3 million of wheat flour and $4.1 million of soda in the first quarter, the customs data showed. Reuters
---
Indonesia probes Wilmar staff, trade ministry in palm oil corruption case
JAKARTA (BLOOMBERG) - Indonesia has detained suspects including the commissioner of a Wilmar International unit and a senior trade ministry official as part of a corruption case involving palm oil exports.
The commissioner of Wilmar Nabati Indonesia with initials MPT and the Trade Ministry's director-general of foreign trade with initials IWW have been detained after being named suspects in the case along with two other people, said Attorney-General S. T. Burhanuddin.
The case involves the approval of export permits that did not meet requirements and a lack of local palm oil distribution as required by the domestic market obligation (DMO) rule, he added. Straits Times
---
Egypt, Malaysia discuss strengthening investment cooperation
Mohamed Abdel Wahab — CEO of the General Authority for Investment and Free Zones (GAFI) — and Malaysian Minister of Industries Zuraida Qamar Al-Din, along with his accompanying delegation of representatives from various industrial councils discussed ways to enhance investment cooperation between the two countries.
They also studied opportunities to establish new Malaysian investments in Egypt as well as discussed mechanisms for the participation of businessmen from the two countries in joint projects.
Abdel Wahab noted that both sides aspire to see Egypt as a major centre for the manufacture and export of Malaysian palm oil to countries of the region, and to benefit from Egypt’s comparative advantages and free trade agreements with Arab, African, and European countries. Daily News Egypt
---
Sam’s Club to Produce its Private Label Products More Ethically and Sustainably
Seeking to make its Member’s Mark private label line more responsible, Sam’s Club is planning to bring additional environmental, ethical and social concerns to bear in manufacturing these products. Following the lead of parent company Walmart, which in 2020 outlined plans to become a regenerative company, Sam’s Club began taking steps that year to develop Member’s Mark under the principle of being “Made with Our Members and Planet in Mind” as it launched, redesigned and reformulated more than 1,200 products.
The updated mission includes removing certain ingredients from Member’s Mark food and consumable products in addition to introducing goods made through responsible practices, including: production and sourcing linked to incorporating renewable sources; promoting animal welfare; supporting land and ocean health; reducing deforestation; and using more sustainable textiles. Through incorporating more recyclable, reusable and industrially compostable components, Sam’s Club aims to reduce its environmental footprint. Retail Touch Points
---
Brazil - Vibra expands BBF partnership to include palm-based SAF
SAO JOAO DA BALIZA, Brazil, April 13 (Reuters) – Brazilian fuel distributor Vibra Energia SA (VBBR3.SA) has tapped an existing partnership with Brasil BioFuels (BBF) to move into producing and selling palm oil-based jet fuel as it looks to take another step in the energy transition.
Vibra, formerly known as Petrobras Distribuidora SA, has agreed to sell aviation fuel to be produced at BBF’s Manaus biorefinery, which was already set to provide the company with renewable diesel.
The move has prompted BBF to invest an additional 200 million reais ($43 million) in the venture, which will use oil from palms planted in the Amazon location of Roraima, Brazil’s northernmost state, as raw material.
Vibra, the country’s largest fuel distributor, has chosen to base the new venture in the city of Sao Joao da Baliza, known for its tropical rainforest climate, ideal for palm planting. Brasil Biofuels
---
US - Fuji Vegetable Oil Celebrates Grand Opening in Jefferson Parish
AVONDALE, La – From the Jefferson Parish Economic Development Commission:
JEDCO, in coordination with Jefferson Parish and Louisiana Economic Development, celebrated the grand opening of Fuji Vegetable Oil’s new processing facility in Avondale on Wednesday. The global specialty oil and fat producer broke ground in late 2018 on a $70 million food processing, storage, and distribution complex on property owned by International-Matex Tank Terminals (IMTT) with construction completed in August 2021. The company created 45 direct jobs with an average annual salary of $77,000, plus benefits.
Founded in 1987, Fuji Vegetable Oil is a leader in the production of ingredients for the commercial food industry. Fuji’s fats and oils are used in a variety of industries and can be found in a wide array of products, including desserts, infant formula, frying fats, and soaps. Biz New Orleans
---
Malaysia - Sime Darby Plantation transforms palm oil mills into food safety facilities
KUALA LUMPUR (April 18): Sime Darby Plantation Bhd (SDP) is transforming all 33 of its Malaysian palm oil mills into certified food safety facilities by the end of 2023, after which the same standards will be applied across the group's operations in Indonesia, Papua New Guinea, and the Solomon Islands.
Under this exercise, it said mill safety and sustainability standards will be raised to meet stringent international food production standards, said the plantation group in a statement on Monday (April 18).
"We have redesigned plantations by mechanising, automating and digitalising several aspects of work that have always been done manually." The Edge Markets
---
Indonesia launches corruption case over palm oil exports
JAKARTA, April 19 (Reuters) - Indonesian authorities have opened a corruption case linked to the issuance of palm oil export permits, naming four suspects including a trade ministry official and palm oil company executives, the attorney general said on Tuesday.
The move comes as the government in Indonesia, which is the world's top palm oil producer, has faced pressure to control soaring cooking oil prices. Authorities between late January and the middle of March restricted exports of palm oil and its derivatives, requiring companies to meet demand at home before they were allowed to export.
Reuters
---
Cargill Suspends Palm Oil Purchases From Malaysia’s Sime Darby
Cargill Inc., one of the word’s biggest agricultural traders, stopped buying palm oil products from Sime Darby Plantation Bhd. after the U.S. said it found indicators of forced labor in the Malaysian grower. Cargill has suspended all new sourcing of palm oil and derivative products from Sime Darby since Feb. 25, the world’s biggest oil palm planter by acreage said in an emailed response.
Read more at: https://www.bloombergquint.com/business/cargill-suspends-palm-oil-purchases-from-malaysia-s-sime-darby
---
Ferrero and Cargill palm oil bans to have minimal financial impact on Sime Darby Plantation, says HLIB
KUALA LUMPUR (April 18): Hong Leong Investment Bank (HLIB) Research said that Ferrero and Cargill Inc moves to stop buying palm oil from Sime Darby Plantation Bhd (SDP) should have minimal financial impact on the company as the firm should be able to divert its products elsewhere amid tight supply of vegetable oils.
In a note on Monday (April 18), HLIB analyst Chye Wen Fei said that while the latest decisions by Ferrero and Cargill Inc had reignited investors’ environmental, social and governance (ESG) concerns over SDP, the impact on its share price (which retraced by 4.3% last Friday) was likely a knee-jerk reaction.
According to her, this is because the financial impact on SDP should be minimal as she believes SDP would be able to divert its products elsewhere, given the tight supply of vegetable oils, and the company had already taken the necessary steps to address these ESG concerns as evident by its recent implementation of a continuous improvement plan to address the 11 International Labour Organization indicators of forced labour. The Edge Markets
---
Malaysia - Speedier submission of evaluation reports urged
PETALING JAYA: Affected local planters, whose palm oil products are banned by the United States Customs and Border Protection (CBP) on forced labour allegations, must speed up the submission of their independent evaluation reports to the relevant US authorities.
According to industry consultant M R Chandran, a potential delay in publishing the independent reports could cause uneasiness among US buyers and users, thus leading to a boycott or suspension on the origin palm oil products.
“In fact, such delays have already led to a knee-jerk reaction by some big names such as Cargill Inc, Hershey Co, General Mills Inc and the latest being Italian confectionery giant Ferrero to boycott the purchase of palm oil products from the affected Malaysian planters,” he told StarBiz recently. The StarMY
---
Liberia: Government Launches 5-Year Strategy and Action Plan for Oil Palm
The Government of Liberia through the Ministry of Agriculture (MOA) has launched the National Oil Palm Strategy and Action Plan (NOPSAP), identifying oil palm as one of the priority crops to spur agricultural growth and development under Pillar II of its Pro-Poor Agenda for Prosperity and Development (PAPD).
The Ministry of Agriculture on Thursday, April 14, 2022, officially launched the five-year strategy and action plan on oil palm production in the country at Corina Hotel in Sinkor, Monrovia.
Agriculture Minister, Jeanine M. Cooper, at the launch said the initiative is important but stressed a need for the establishment of an oil palm development fund. All Africa
---
EU - European Union undermining its trade with south-east Asia: Report
Brussels [Belgium], April 16 (ANI): After decades of support for globalization and free trade, the European Union (EU), in recent times has started adopting an inward approach which is impacting its trade with south-east Asia in particular, a media report said.
In the 2022 State of Southeast Asia survey, produced annually by the ISEAS-Yusof Ishak Institute in Singapore, when the region’s opinion-formers were asked who they considered the leading champion of free trade, the EU fell to fourth place, several percentage points behind China, Asia Times reported.
The fall in EU’s approval ratings with regard to free trade is an ongoing trend since 2019 with analysts pointing out that the fall in ratings stems from the EU’s own actions, the report said. The PrintIN
---
Malaysia - Ferrero overlooks Sime Darby Plantation's sustainable palm oil production
KUALA LUMPUR (April 17): While the knee-jerk reaction on the part of multinational corporations like Ferrero to stop buying palm oil products from Sime Darby Plantation Bhd (SDP) is regrettable, they seem to have overlooked the fact that SDP is the largest producer of Roundtable on Sustainable Palm Oil (RSPO)-certified sustainable palm oil globally.
"One should ask what is Ferrero's ultimate objective in announcing publicly their decision to stop buying SDP origin palm derivatives? If it is to win brand loyalty, then it is a nice storyline packed with chicanery," MR Chandran, a veteran of the agro-commodity industry, said.
Nevertheless, he said the multinational confectionery company is a major user of RSPO-certified palm products, thus, they had many avenues to explore before taking this extreme action to boycott SDP products. The Edge Markets
---
Ferrero is not a customer, says Sime Darby Plantation
KUALA LUMPUR (April 15): Sime Darby Plantation Bhd (SDP) said that Italian confectionery firm Ferrero, which is reportedly planning to stop sourcing palm oil from it, is not its customer and has not been for a while.
Neither are General Mills and The Hershey Company, which are also mentioned in the Reuters news report published earlier on Friday, the plantation company said in a statement.
However, SDP confirmed that direct customer Cargill has decided to suspend all new sourcing of palm oil and derivative products from it, effective Feb 25, 2022. The Edge Markets
---
EU MEPs push European Commission to reveal used cooking oil origins
Greens EU lawmakers have sent a formal letter requesting that the European Commission provide data on the origins and quantities of used cooking oil (UCO) imported into the bloc, putting further pressure on the EU executive to allay fraud concerns surrounding UCO imports.
The MEPs’ letter follows a finding of “maladministration” towards the European Commission by the EU Ombudsman, a Strasbourg-based watchdog, for refusing to furnish information on UCO imports following a citizen request.
Addressing the heads of the Commission’s environment, transport, and green deal portfolios, five MEPs from the Greens/EFA group highlighted a recent report by the International Council on Clean Transportation (ICCT) that suggests much of the UCO imported into the EU may be fraudulent, with restricted palm oil used to bulk up batches. Euractiv
---
Brazil's Vibra taps deal to move into palm oil-based aviation fuel
SAO JOAO DA BALIZA, Brazil, April 13 (Reuters) - Brazilian fuel distributor Vibra Energia SA (VBBR3.SA) has tapped an existing partnership with Brasil BioFuels (BBF) to move into producing and selling palm oil-based jet fuel as it looks to take another step in the energy transition.
Vibra, formerly known as Petrobras Distribuidora SA, has agreed to sell aviation fuel to be produced at BBF's Manaus biorefinery, which was already set to provide the company with renewable diesel. Reuters
---
Japan to create bio jet fuel supply chain in clean energy push
TOKYO -- Japan will begin developing a supply network for bio jet fuel, aiming to make the fuel available across the country next year, as countries around the world work to reduce emissions of greenhouse gasses from aviation, Nikkei has learned.
Infrastructure for handling sustainable aviation fuel (SAF) will be built at Chubu Centrair International Airport in Aichi Prefecture, in central Japan.
Bio jet fuel is made from renewable materials such biomass and waste resources. Mixing SAF with conventional petroleum-based jet fuel reduces carbon dioxide emissions by 70% to 90%. The Japanese government will take the lead in importing the eco-friendly fuel and in building storage facilities.
Japanese airlines are under pressure to use SAF. Nikkei Asia
---
India - Harish Rao lays foundation stone for palm oil factory in Siddipet
Hyderabad: Telangana Finance Minister Harish Rao along with Agriculture Minister Niranjan Reddy and OilFed Chairman Kancharla Ramakrishnareddy laid the foundation stone for the construction of a 60-acre palm oil factory at Narmatta village in the Nangunnur zone at a cost of Rs 300 crore.
Minister Harish Rao said that this was the first palm oil factory in the state to come up after the creation of a separate state of Telangana. He lauded chief minister K Chandrasekhar Rao (KCR) and said that it was because of his efforts that water was being supplied by the mission Bagiratha and Kaleswaram lift irrigation scheme along with 24-hour electricity.
He said, “In an effort to increase the income of farmers in Siddipet, the area has been declared as an oil palm district with the help of Minister Niranjan Reddy. We will provide a subsidy of Rs 80,000 per acre. These subsidies have also been increased for drip companies.” Siasat
---
Malaysia Looks to Ease Migrant Worker Shortage as Borders Reopen
About 180,000 workers to be hired over six weeks: minister
More than 500,000 applications received from across sectors
(Bloomberg) -- Malaysia is looking to ease a pandemic-driven labor crunch that has choked its key plantation and manufacturing industries by hastening the hiring of migrant workers.
The country is expected to hire nearly 180,000 workers over the next six weeks, according to Human Resources Minister M. Saravanan. A special committee will meet daily from April 15 to speed up the approval process, state news agency Bernama reported Wednesday, citing Plantation Industries and Commodities Minister Zuraida Kamaruddin.
Malaysia froze the hiring of foreign workers in the past two years to stem the spread of Covid, leading to an acute labor shortage especially in the palm oil plantation sector which suffered billions of dollars in lost revenue. The country re-opened borders on April 1, and is transitioning to the endemic phase of the outbreak. Bloomberg
---
Malaysia has adequate palm oil supply to cater to US, EU demand — Zuraida
KUALA LUMPUR (April 13): Malaysia has an adequate supply of palm oil to cater to the demand of the United States (US) and the European Union (EU), said Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin.
She said the border to border transactions for Malaysia to supply palm oil to the US and EU had already started.
"The Ukraine-Russia war has caused a shortage of other edible oils such as soybean oil, corn oil and sunflower oil. Now the US and EU have no choice but to go back to using palm oil,” she told reporters at the breaking of fast event and the presentation of the Malaysian Rubber Council's (MRC) aid at the Darul Ehsan mosque, Taman TAR, Ampang near here. The Edge Markets
---
Malaysia - Sabah ties up with Shandong Port to become BIMP-EAGA logistics hub
KOTA KINABALU: The Palm Oil Industrial Cluster (POIC) Sabah Sdn Bhd has signed a strategic collaboration with China's Shandong Port Overseas Development Group, the biggest port operator in the world.
The agreement was signed today between POIC Sabah chief executive officer Datuk Freddie Gan and Shandong Port deputy general manager Xu Wei.
Gan said the link-up with a major Chinese port operator will move them towards opening up the port to serving customers other than investors at POIC Lahad Datu.
It was also a huge step forward for Sabah to realising its vision as a hub for logistics, resource amalgamation and manufacturing for the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) region. New Straits Times
KUALA LUMPUR (April 15): Sime Darby Plantation Bhd (SDP) said that Italian confectionery firm Ferrero, which is reportedly planning to stop sourcing palm oil from it, is not its customer and has not been for a while.
Neither are General Mills and The Hershey Company, which are also mentioned in the Reuters news report published earlier on Friday, the plantation company said in a statement.
However, SDP confirmed that direct customer Cargill has decided to suspend all new sourcing of palm oil and derivative products from it, effective Feb 25, 2022. The Edge Markets
---
EU MEPs push European Commission to reveal used cooking oil origins
Greens EU lawmakers have sent a formal letter requesting that the European Commission provide data on the origins and quantities of used cooking oil (UCO) imported into the bloc, putting further pressure on the EU executive to allay fraud concerns surrounding UCO imports.
The MEPs’ letter follows a finding of “maladministration” towards the European Commission by the EU Ombudsman, a Strasbourg-based watchdog, for refusing to furnish information on UCO imports following a citizen request.
Addressing the heads of the Commission’s environment, transport, and green deal portfolios, five MEPs from the Greens/EFA group highlighted a recent report by the International Council on Clean Transportation (ICCT) that suggests much of the UCO imported into the EU may be fraudulent, with restricted palm oil used to bulk up batches. Euractiv
---
Brazil's Vibra taps deal to move into palm oil-based aviation fuel
SAO JOAO DA BALIZA, Brazil, April 13 (Reuters) - Brazilian fuel distributor Vibra Energia SA (VBBR3.SA) has tapped an existing partnership with Brasil BioFuels (BBF) to move into producing and selling palm oil-based jet fuel as it looks to take another step in the energy transition.
Vibra, formerly known as Petrobras Distribuidora SA, has agreed to sell aviation fuel to be produced at BBF's Manaus biorefinery, which was already set to provide the company with renewable diesel. Reuters
---
Japan to create bio jet fuel supply chain in clean energy push
TOKYO -- Japan will begin developing a supply network for bio jet fuel, aiming to make the fuel available across the country next year, as countries around the world work to reduce emissions of greenhouse gasses from aviation, Nikkei has learned.
Infrastructure for handling sustainable aviation fuel (SAF) will be built at Chubu Centrair International Airport in Aichi Prefecture, in central Japan.
Bio jet fuel is made from renewable materials such biomass and waste resources. Mixing SAF with conventional petroleum-based jet fuel reduces carbon dioxide emissions by 70% to 90%. The Japanese government will take the lead in importing the eco-friendly fuel and in building storage facilities.
Japanese airlines are under pressure to use SAF. Nikkei Asia
---
India - Harish Rao lays foundation stone for palm oil factory in Siddipet
Hyderabad: Telangana Finance Minister Harish Rao along with Agriculture Minister Niranjan Reddy and OilFed Chairman Kancharla Ramakrishnareddy laid the foundation stone for the construction of a 60-acre palm oil factory at Narmatta village in the Nangunnur zone at a cost of Rs 300 crore.
Minister Harish Rao said that this was the first palm oil factory in the state to come up after the creation of a separate state of Telangana. He lauded chief minister K Chandrasekhar Rao (KCR) and said that it was because of his efforts that water was being supplied by the mission Bagiratha and Kaleswaram lift irrigation scheme along with 24-hour electricity.
He said, “In an effort to increase the income of farmers in Siddipet, the area has been declared as an oil palm district with the help of Minister Niranjan Reddy. We will provide a subsidy of Rs 80,000 per acre. These subsidies have also been increased for drip companies.” Siasat
---
Malaysia Looks to Ease Migrant Worker Shortage as Borders Reopen
About 180,000 workers to be hired over six weeks: minister
More than 500,000 applications received from across sectors
(Bloomberg) -- Malaysia is looking to ease a pandemic-driven labor crunch that has choked its key plantation and manufacturing industries by hastening the hiring of migrant workers.
The country is expected to hire nearly 180,000 workers over the next six weeks, according to Human Resources Minister M. Saravanan. A special committee will meet daily from April 15 to speed up the approval process, state news agency Bernama reported Wednesday, citing Plantation Industries and Commodities Minister Zuraida Kamaruddin.
Malaysia froze the hiring of foreign workers in the past two years to stem the spread of Covid, leading to an acute labor shortage especially in the palm oil plantation sector which suffered billions of dollars in lost revenue. The country re-opened borders on April 1, and is transitioning to the endemic phase of the outbreak. Bloomberg
---
Malaysia has adequate palm oil supply to cater to US, EU demand — Zuraida
KUALA LUMPUR (April 13): Malaysia has an adequate supply of palm oil to cater to the demand of the United States (US) and the European Union (EU), said Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin.
She said the border to border transactions for Malaysia to supply palm oil to the US and EU had already started.
"The Ukraine-Russia war has caused a shortage of other edible oils such as soybean oil, corn oil and sunflower oil. Now the US and EU have no choice but to go back to using palm oil,” she told reporters at the breaking of fast event and the presentation of the Malaysian Rubber Council's (MRC) aid at the Darul Ehsan mosque, Taman TAR, Ampang near here. The Edge Markets
---
Malaysia - Sabah ties up with Shandong Port to become BIMP-EAGA logistics hub
KOTA KINABALU: The Palm Oil Industrial Cluster (POIC) Sabah Sdn Bhd has signed a strategic collaboration with China's Shandong Port Overseas Development Group, the biggest port operator in the world.
The agreement was signed today between POIC Sabah chief executive officer Datuk Freddie Gan and Shandong Port deputy general manager Xu Wei.
Gan said the link-up with a major Chinese port operator will move them towards opening up the port to serving customers other than investors at POIC Lahad Datu.
It was also a huge step forward for Sabah to realising its vision as a hub for logistics, resource amalgamation and manufacturing for the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) region. New Straits Times
EU - Will EU’s hawks kill off free trade with Asia?
Back in July 2009, before pundits could point to a recognizable foreign policy from the European Union, there was at least some surety that Brussels led the world in supporting free trade.
“ASEAN and the EU are leading by example: closer cooperation between nations is the only way forward in a globalized world,” Javier Solana, then the EU’s foreign policy chief, boasted at a partnership summit in Phuket, Thailand, that month.
The EU was ASEAN’s largest trading partner, he noted, and ASEAN was the EU’s leading foreign direct investment destination in Asia. “ASEAN and the EU are committed to this principle, but they are also depending on each other to succeed.” Asia Times
---
Malaysian Sustainable Palm Oil to be aligned with international standards
In Malaysia, the Malaysian Reserve newspaper reports that together with stakeholders, the palm oil board is reviewing the sustainability standards within the Malaysian Sustainable Palm Oil (MSPO) certification scheme to align it with stricter international schemes as well as traceability. Malaysian palm oil regularly comes under fire for weak sustainability criteria so with the European market at risk due to its poor credentials, the MSPO is working to tighten up its standards as a diplomatic tool to keep the conversation going. Biofuels Digest
---
Indonesia - Landmark 10-Year Project to Advance Regenerative Agriculture Launched by Danone, L’Oréal, Mars, Incorporated, the Livelihoods Funds, SNV & Musim Mas
INDONESIA, April 11, 2022 /3BL Media/ - In an unprecedented move, Danone, L’Oréal, Mars, Incorporated, the Livelihoods Funds, Musim Mas, and SNV have partnered to advance regenerative agriculture in North Sumatra, Indonesia. The project, spanning ten years, aims to sustain a deforestation-free supply chain, regenerate 8,000 hectares of degraded land, restore local biodiversity in 3,500 hectares, and improve the livelihoods of 2,500 independent smallholder farmers.
Through its Livelihoods fund for Family Farming (L3F), the Livelihoods Funds have developed an innovative approach where independent smallholders can combine better yields, restore biodiversity, and diversify their income. Yahoo Finance
---
Korea - Biodiesel inventories on rise in Korea due to price surge, hurting profitability
Biodiesel inventories in South Korea are rapidly piling up as local refineries have shunned its use in automotive diesel fuel due to its price surge from the soaring crude palm oil prices.
According to industry sources on Monday, biodiesel inventories have surged in Korea in April as the green fuel price recently jumped to the 2,000 won ($1.62) level per liter from the average 1,800 won level last year amid the soaring crude palm oil prices.
Due to the galloping price, Korean refiners have significantly cut biodiesel orders with a plan to lower its blending ratio in automotive diesel fuel to 2 percent, the bottom end of the country’s regulated range of 2 to 5 percent per year. The government revised up the mandatory mixing ratio of biodiesel to 3.5 percent earlier, but refiners are allowed to meet the requirement with an annual average ratio from this year. Pulse NewsKR
---
Palm oil - National certification: a piece of the puzzle in reducing primary forest loss?
To discuss and better understand the role of ISPO and MSPO and how they can contribute to reducing palm oil-related deforestation in Indonesia and Malaysia, the Sustainable Palm Oil Choice (SPOC) organizes a webinar on 21 April 2022. The webinar investigates the current state of play with respect to deforestation in Indonesia and Malaysia for palm oil, and aims to create clarity on the exact requirements and enforcement mechanisms in place. It would like to provide a better understanding amongst participants of the role that national schemes play and how they fit in the larger set of approaches, including voluntary certification schemes, regulations in importing countries, landscape approaches, and country partnerships and what can be done to help drive implementation and effectiveness of national standards from a European perspective. Food Navigator
---
EU Turns to Indonesia, Malaysia for Palm Oil – NST
Industry observers say low Malaysian palm oil production might limit its ability to fulfill the potential increased demand from the EU.
The shortage of sunflower and rapeseed oils, in which conflicting countries Russia and Ukraine account for nearly 75 per cent of the global exports, will make the European Union relook at Malaysia and Indonesia for more sustainable palm oil, The New Straits Times reported.
Industry observers, however, said low Malaysian palm oil production might limit its ability to fulfill the potential increased demand from the EU.
Read the full report: The New Straits Times
---
Nigeria - ESOPP: Edo targets 1m metric tons of palm oil production by 2030
The Edo State Government has said it plans to add over one million metric tons to local production of Crude Palm Oil (CPO) by 2030, on the back of investment in the sector by the Governor Godwin Obaseki-led administration.
The Edo State Commissioner for Agriculture and Food Security, Mr. Stephen Idehenre, disclosed this to journalists in Benin City.
He noted that the government’s investment in palm oil production through the Edo State Oil Palm Programme (ESOPP), among other initiatives, has continued to open up the space for large-scale commercial farming in the state, impacting the lives of thousands of farmers.
Idehenre said, “We have continued to record a remarkable influx of investors in the agriculture sector with the Edo State Oil Palm Programme (ESOPP), in furtherance of our aim of anchoring our economic growth on commercial agriculture while sustaining food security. Nigerian Observer
---
Back in July 2009, before pundits could point to a recognizable foreign policy from the European Union, there was at least some surety that Brussels led the world in supporting free trade.
“ASEAN and the EU are leading by example: closer cooperation between nations is the only way forward in a globalized world,” Javier Solana, then the EU’s foreign policy chief, boasted at a partnership summit in Phuket, Thailand, that month.
The EU was ASEAN’s largest trading partner, he noted, and ASEAN was the EU’s leading foreign direct investment destination in Asia. “ASEAN and the EU are committed to this principle, but they are also depending on each other to succeed.” Asia Times
---
Malaysian Sustainable Palm Oil to be aligned with international standards
In Malaysia, the Malaysian Reserve newspaper reports that together with stakeholders, the palm oil board is reviewing the sustainability standards within the Malaysian Sustainable Palm Oil (MSPO) certification scheme to align it with stricter international schemes as well as traceability. Malaysian palm oil regularly comes under fire for weak sustainability criteria so with the European market at risk due to its poor credentials, the MSPO is working to tighten up its standards as a diplomatic tool to keep the conversation going. Biofuels Digest
---
Indonesia - Landmark 10-Year Project to Advance Regenerative Agriculture Launched by Danone, L’Oréal, Mars, Incorporated, the Livelihoods Funds, SNV & Musim Mas
INDONESIA, April 11, 2022 /3BL Media/ - In an unprecedented move, Danone, L’Oréal, Mars, Incorporated, the Livelihoods Funds, Musim Mas, and SNV have partnered to advance regenerative agriculture in North Sumatra, Indonesia. The project, spanning ten years, aims to sustain a deforestation-free supply chain, regenerate 8,000 hectares of degraded land, restore local biodiversity in 3,500 hectares, and improve the livelihoods of 2,500 independent smallholder farmers.
Through its Livelihoods fund for Family Farming (L3F), the Livelihoods Funds have developed an innovative approach where independent smallholders can combine better yields, restore biodiversity, and diversify their income. Yahoo Finance
---
Korea - Biodiesel inventories on rise in Korea due to price surge, hurting profitability
Biodiesel inventories in South Korea are rapidly piling up as local refineries have shunned its use in automotive diesel fuel due to its price surge from the soaring crude palm oil prices.
According to industry sources on Monday, biodiesel inventories have surged in Korea in April as the green fuel price recently jumped to the 2,000 won ($1.62) level per liter from the average 1,800 won level last year amid the soaring crude palm oil prices.
Due to the galloping price, Korean refiners have significantly cut biodiesel orders with a plan to lower its blending ratio in automotive diesel fuel to 2 percent, the bottom end of the country’s regulated range of 2 to 5 percent per year. The government revised up the mandatory mixing ratio of biodiesel to 3.5 percent earlier, but refiners are allowed to meet the requirement with an annual average ratio from this year. Pulse NewsKR
---
Palm oil - National certification: a piece of the puzzle in reducing primary forest loss?
To discuss and better understand the role of ISPO and MSPO and how they can contribute to reducing palm oil-related deforestation in Indonesia and Malaysia, the Sustainable Palm Oil Choice (SPOC) organizes a webinar on 21 April 2022. The webinar investigates the current state of play with respect to deforestation in Indonesia and Malaysia for palm oil, and aims to create clarity on the exact requirements and enforcement mechanisms in place. It would like to provide a better understanding amongst participants of the role that national schemes play and how they fit in the larger set of approaches, including voluntary certification schemes, regulations in importing countries, landscape approaches, and country partnerships and what can be done to help drive implementation and effectiveness of national standards from a European perspective. Food Navigator
---
EU Turns to Indonesia, Malaysia for Palm Oil – NST
Industry observers say low Malaysian palm oil production might limit its ability to fulfill the potential increased demand from the EU.
The shortage of sunflower and rapeseed oils, in which conflicting countries Russia and Ukraine account for nearly 75 per cent of the global exports, will make the European Union relook at Malaysia and Indonesia for more sustainable palm oil, The New Straits Times reported.
Industry observers, however, said low Malaysian palm oil production might limit its ability to fulfill the potential increased demand from the EU.
Read the full report: The New Straits Times
---
Nigeria - ESOPP: Edo targets 1m metric tons of palm oil production by 2030
The Edo State Government has said it plans to add over one million metric tons to local production of Crude Palm Oil (CPO) by 2030, on the back of investment in the sector by the Governor Godwin Obaseki-led administration.
The Edo State Commissioner for Agriculture and Food Security, Mr. Stephen Idehenre, disclosed this to journalists in Benin City.
He noted that the government’s investment in palm oil production through the Edo State Oil Palm Programme (ESOPP), among other initiatives, has continued to open up the space for large-scale commercial farming in the state, impacting the lives of thousands of farmers.
Idehenre said, “We have continued to record a remarkable influx of investors in the agriculture sector with the Edo State Oil Palm Programme (ESOPP), in furtherance of our aim of anchoring our economic growth on commercial agriculture while sustaining food security. Nigerian Observer
---
From palm oil to GMO feed: How is Europe’s sunflower shortage changing up food production?
Food formulators are being forced to change their recipes, and non-GMO breeders may have to integrate genetically modified feed into animal nutrition, due to the Ukraine-Russia conflict. Food Navigator
Palm oil production to increase
---
Palm oil production to increase
WINNIPEG (MarketsFarm) — There’s to be a small increase in palm oil production in Indonesia in 2022-23, according to the U.S. Department of Agriculture’s attaché in Jakarta.
The USDA official pegged palm oil output to rise by 1.1 percent at 46 million tonnes due to favourable weather and higher prices for producers. Also, the attaché revised 2021-22 production, raising it one million tonnes from the USDA official number of 44.5 million.
As well, estimates for 2021-22 marketing year exports increased by one million tonnes at 29 million. The projection for 2022-23 also went up by one million at 30 million tonnes, based on demand increasing as the world recovers from the COVID-19 pandemic.
Also, the lack of sunflower exports out of Ukraine due to the war could see more demand for Indonesian palm oil. Producer
---
India’s import bill for edible oil likely to jump by $2 billion
India has contracted 45,000 tonne of sunflower oil from Russia and another 20,000 tonnes of sunflower from Argentina for the current month at $2100 per tonne. The ongoing conflict between Russia and Ukraine has pushed up edible oil prices sharply in the March quarter.
India’s import bill for edible oils is slated to jump by $2 billion, following the sharp rise in prices after Russian attack on Ukraine. Supply disruptions caused by the conflict in Ukraine have pushed up sunflower prices from $1,500 per tonne to $2,050 per tonne. Soya oil is now trading at $1,800 per tonne from $1,500 per tonne prior to the war, while palm oil is up from $1,400 per tonne to $1,700.
“The import bill has gone up by around $ 2 billion annually due to the invasion and overall price table going up,” Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm told FE. Financial Express
---
Indonesia - As G20 chair, coal-heavy Indonesia sends mixed signals on green transition
April 8 (Thomson Reuters Foundation) - Indonesia is using its stint as G20 president to push for more international funding for the green energy transition in developing nations - but analysts say Jakarta needs to back up its calls with more ambitious plans to cut emissions at home.
The world's top exporter of thermal coal and its eighth-biggest carbon emitter, Indonesia has made a sustainable energy transition one of three focuses for its maiden, year-long presidency of the G20 group of the world's 20 largest economies.
The Southeast Asian nation plans to phase out coal for electricity by 2056 and has brought forward its net-zero emissions target from 2070 to 2060 or sooner - but weaning itself off the dirty, climate-heating fuel remains a challenge.
"The key thing for Indonesia is we have to find the balance," said Fabby Tumiwa, executive director of the Institute for Essential Services Reform, an independent think-tank which also advises the government on energy policies. Thomson Reuters
---
Food formulators are being forced to change their recipes, and non-GMO breeders may have to integrate genetically modified feed into animal nutrition, due to the Ukraine-Russia conflict. Food Navigator
Palm oil production to increase
---
Palm oil production to increase
WINNIPEG (MarketsFarm) — There’s to be a small increase in palm oil production in Indonesia in 2022-23, according to the U.S. Department of Agriculture’s attaché in Jakarta.
The USDA official pegged palm oil output to rise by 1.1 percent at 46 million tonnes due to favourable weather and higher prices for producers. Also, the attaché revised 2021-22 production, raising it one million tonnes from the USDA official number of 44.5 million.
As well, estimates for 2021-22 marketing year exports increased by one million tonnes at 29 million. The projection for 2022-23 also went up by one million at 30 million tonnes, based on demand increasing as the world recovers from the COVID-19 pandemic.
Also, the lack of sunflower exports out of Ukraine due to the war could see more demand for Indonesian palm oil. Producer
---
India’s import bill for edible oil likely to jump by $2 billion
India has contracted 45,000 tonne of sunflower oil from Russia and another 20,000 tonnes of sunflower from Argentina for the current month at $2100 per tonne. The ongoing conflict between Russia and Ukraine has pushed up edible oil prices sharply in the March quarter.
India’s import bill for edible oils is slated to jump by $2 billion, following the sharp rise in prices after Russian attack on Ukraine. Supply disruptions caused by the conflict in Ukraine have pushed up sunflower prices from $1,500 per tonne to $2,050 per tonne. Soya oil is now trading at $1,800 per tonne from $1,500 per tonne prior to the war, while palm oil is up from $1,400 per tonne to $1,700.
“The import bill has gone up by around $ 2 billion annually due to the invasion and overall price table going up,” Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm told FE. Financial Express
---
Indonesia - As G20 chair, coal-heavy Indonesia sends mixed signals on green transition
April 8 (Thomson Reuters Foundation) - Indonesia is using its stint as G20 president to push for more international funding for the green energy transition in developing nations - but analysts say Jakarta needs to back up its calls with more ambitious plans to cut emissions at home.
The world's top exporter of thermal coal and its eighth-biggest carbon emitter, Indonesia has made a sustainable energy transition one of three focuses for its maiden, year-long presidency of the G20 group of the world's 20 largest economies.
The Southeast Asian nation plans to phase out coal for electricity by 2056 and has brought forward its net-zero emissions target from 2070 to 2060 or sooner - but weaning itself off the dirty, climate-heating fuel remains a challenge.
"The key thing for Indonesia is we have to find the balance," said Fabby Tumiwa, executive director of the Institute for Essential Services Reform, an independent think-tank which also advises the government on energy policies. Thomson Reuters
---
Nigeria needs $500m worth of palm oil to meet local demand — OPGAN
National President of Oil Palm Growers Association of Nigeria, OPGAN, Chief Joe Onyiuke, has said about $500 million worth of palm oil was needed to meet local demand of the commodity annually.
He added that for the gap to be bridged, local palm oil producers would need to strategise their efforts at both production and organisation to attract the necessary funding needed for improved and increased production.
Onyiuke at a town hall meeting with Akwa Ibom State chapter of OPGAN in Uyo, yesterday, expressed regret that palm oil, which remain a major component for the production of more than 40 items, excluding cooking, has been left in the hands of the elderly, leading to big production and supply gaps even as outdated processing methods were most times deployed in the country. VanguardNGR
---
Nigeria - Okomu Oil to pay shareholders N7 billion dividend as full-year profit triples
Okomu Oil Palm Plc will reward shareholders with a dividend payout of N7.6 billion, translating to an N8 per share for the financial year 2021, the firm said in a notice published on the Nigerian Exchange (NGX) on Wednesday, seen by PREMIUM TIMES.
The decision followed a sterling earnings performance by the company last year, marked by a roughly three-times leap in net profit to N11.5 billion and a rise in turnover by 60 per cent.
The manufacturer of palm oil, rubber cup clumps, palm kernel oil and palm kernel cake said the payment of the dividend is subject to appropriate withholding tax and will go to shareholders, whose names appear in the company’s register of members at the close of business on 22 April, being the qualification date.
Okomu Oil posted turnover in excess of N31 billion for 2020 after sales increased by 66.7 per cent, with exports to outside its base in Nigeria contributing N4.2 billion. Premium Times NG
---
Nigeria - ‘Presco’- a Nigerian Edible Oil Processor Receives Overwhelming Support for Its First US$82.8 mn Bond
Stanbic IBTC Capital Limited served as the Bond Issue's Lead Issuing House, while CardinalStone Partners Limited and Quantum Zenith Capital and Investments Limited served as Joint Issuing Houses.
Presco Plc, a fully integrated oil palm processing firm, issued N34.5 billion (US$82.8 million) in seven-year Fixed Rate Bonds under its N50 billion (US$120 million) Bond Issuance Programme. The series 1 Bond Issue, according to the company, was 247 percent subscribed and priced at a coupon rate of 12.85 percent.
It drew a diverse group of investors, including pension funds, asset managers, insurance companies, banks, and high-net-worth individuals. The specialty fat and oil supplier sought to raise N30 billion, but the order book closed at N74 billion, so the company elected to issue an additional 15% to investors, raising a total of N34.5 billion. KrishiJagan
---
Malaysia - 'Speed up foreign worker approval'KUALA LUMPUR: Employers want the foreign worker issue to be resolved quickly and called on the government to expedite the application and approval processes in hiring them.Otherwise, they warned, it could derail recovery efforts due to labour shortages in critical industries, such as the plantation, construction and manufacturing sectors.
Although the government had lifted the freeze on foreign worker recruitment, the Malaysian Employers Federation (MEF) said no new foreign workers had been brought in through the Foreign Workers Centralised Management System (FWCMS).
MEF president Datuk Dr Syed Hussain Syed Husman said 475,678 employers had submitted applications to recruit foreign workers through the system up to April 1. New Straits Times
---
Malaysian oil palm associations call for govt to postpone revising minimum wage
KUALA LUMPUR (April 6): Eleven associations representing the interests of the Malaysian oil palm supply chain on Wednesday called for a postponement of raising the minimum wage to RM1,500 a month, and urged for a phased implementation so that the industry is less hit.
In a statement, the associations said that they are supportive of the revision of the minimum wage, but asserted that the correct approach needs to engage stakeholders under the National Wages Consultative Council (NWCC) so that a right balance can be struck between workers' welfare via a wage increase and the impact such a hike would have on employers.
"Any increase in gazetted minimum wages cannot be retracted once implemented, and will invariably have a bearing on production costs and the competitiveness and viability of businesses in Malaysia. The plantation sector is no exception," they said. The Edge Markets
---
India unbinds diplomatic mission to clear Indonesia farm export imbroglio
Indonesian agriculture imports from India have come to a sudden standstill since the last few days after the authorities there barred the approval given to certification agencies based in India.
India has unleashed its diplomatic might to end the imbroglio with Indonesia on import of agriculture products and is hopeful that the shipments from the host country (India) will start moving in the next week to 10 days.
Sources in the ministry of commerce and also other places said that in the last couple of days Indian ambassador to Indonesia has called on the Director General of Indonesia Agriculture Quarantine Agency (IAAQ) while here in India top officials from APEDA and ministry of commerce have met officials in the Indonesia embassy to clear the confusion.
Indonesian agriculture imports from India have come to a sudden standstill since the last few days after the authorities there barred the approval given to certification agencies based in India.
These agencies or labs issued certificates that are mandatory for exporting agriculture products to Indonesia and had their license valid till March 25. Business Standard
---
European Commission’s proposal on Corporate Sustainability Due Diligence (CSDD)
Civil societies respond to Corporate Sustainability Due Diligence
Solidaridad - 10 CHANGES NEEDED FOR THE EU’S CSDD TO HAVE AN IMPACT ON THE GROUND
WRI - How a New EU Regulation Can Reduce Deforestation Globally
---
National President of Oil Palm Growers Association of Nigeria, OPGAN, Chief Joe Onyiuke, has said about $500 million worth of palm oil was needed to meet local demand of the commodity annually.
He added that for the gap to be bridged, local palm oil producers would need to strategise their efforts at both production and organisation to attract the necessary funding needed for improved and increased production.
Onyiuke at a town hall meeting with Akwa Ibom State chapter of OPGAN in Uyo, yesterday, expressed regret that palm oil, which remain a major component for the production of more than 40 items, excluding cooking, has been left in the hands of the elderly, leading to big production and supply gaps even as outdated processing methods were most times deployed in the country. VanguardNGR
---
Nigeria - Okomu Oil to pay shareholders N7 billion dividend as full-year profit triples
Okomu Oil Palm Plc will reward shareholders with a dividend payout of N7.6 billion, translating to an N8 per share for the financial year 2021, the firm said in a notice published on the Nigerian Exchange (NGX) on Wednesday, seen by PREMIUM TIMES.
The decision followed a sterling earnings performance by the company last year, marked by a roughly three-times leap in net profit to N11.5 billion and a rise in turnover by 60 per cent.
The manufacturer of palm oil, rubber cup clumps, palm kernel oil and palm kernel cake said the payment of the dividend is subject to appropriate withholding tax and will go to shareholders, whose names appear in the company’s register of members at the close of business on 22 April, being the qualification date.
Okomu Oil posted turnover in excess of N31 billion for 2020 after sales increased by 66.7 per cent, with exports to outside its base in Nigeria contributing N4.2 billion. Premium Times NG
---
Nigeria - ‘Presco’- a Nigerian Edible Oil Processor Receives Overwhelming Support for Its First US$82.8 mn Bond
Stanbic IBTC Capital Limited served as the Bond Issue's Lead Issuing House, while CardinalStone Partners Limited and Quantum Zenith Capital and Investments Limited served as Joint Issuing Houses.
Presco Plc, a fully integrated oil palm processing firm, issued N34.5 billion (US$82.8 million) in seven-year Fixed Rate Bonds under its N50 billion (US$120 million) Bond Issuance Programme. The series 1 Bond Issue, according to the company, was 247 percent subscribed and priced at a coupon rate of 12.85 percent.
It drew a diverse group of investors, including pension funds, asset managers, insurance companies, banks, and high-net-worth individuals. The specialty fat and oil supplier sought to raise N30 billion, but the order book closed at N74 billion, so the company elected to issue an additional 15% to investors, raising a total of N34.5 billion. KrishiJagan
---
Malaysia - 'Speed up foreign worker approval'KUALA LUMPUR: Employers want the foreign worker issue to be resolved quickly and called on the government to expedite the application and approval processes in hiring them.Otherwise, they warned, it could derail recovery efforts due to labour shortages in critical industries, such as the plantation, construction and manufacturing sectors.
Although the government had lifted the freeze on foreign worker recruitment, the Malaysian Employers Federation (MEF) said no new foreign workers had been brought in through the Foreign Workers Centralised Management System (FWCMS).
MEF president Datuk Dr Syed Hussain Syed Husman said 475,678 employers had submitted applications to recruit foreign workers through the system up to April 1. New Straits Times
---
Malaysian oil palm associations call for govt to postpone revising minimum wage
KUALA LUMPUR (April 6): Eleven associations representing the interests of the Malaysian oil palm supply chain on Wednesday called for a postponement of raising the minimum wage to RM1,500 a month, and urged for a phased implementation so that the industry is less hit.
In a statement, the associations said that they are supportive of the revision of the minimum wage, but asserted that the correct approach needs to engage stakeholders under the National Wages Consultative Council (NWCC) so that a right balance can be struck between workers' welfare via a wage increase and the impact such a hike would have on employers.
"Any increase in gazetted minimum wages cannot be retracted once implemented, and will invariably have a bearing on production costs and the competitiveness and viability of businesses in Malaysia. The plantation sector is no exception," they said. The Edge Markets
---
India unbinds diplomatic mission to clear Indonesia farm export imbroglio
Indonesian agriculture imports from India have come to a sudden standstill since the last few days after the authorities there barred the approval given to certification agencies based in India.
India has unleashed its diplomatic might to end the imbroglio with Indonesia on import of agriculture products and is hopeful that the shipments from the host country (India) will start moving in the next week to 10 days.
Sources in the ministry of commerce and also other places said that in the last couple of days Indian ambassador to Indonesia has called on the Director General of Indonesia Agriculture Quarantine Agency (IAAQ) while here in India top officials from APEDA and ministry of commerce have met officials in the Indonesia embassy to clear the confusion.
Indonesian agriculture imports from India have come to a sudden standstill since the last few days after the authorities there barred the approval given to certification agencies based in India.
These agencies or labs issued certificates that are mandatory for exporting agriculture products to Indonesia and had their license valid till March 25. Business Standard
---
European Commission’s proposal on Corporate Sustainability Due Diligence (CSDD)
Civil societies respond to Corporate Sustainability Due Diligence
Solidaridad - 10 CHANGES NEEDED FOR THE EU’S CSDD TO HAVE AN IMPACT ON THE GROUND
WRI - How a New EU Regulation Can Reduce Deforestation Globally
---
CPOPC to introduce Global Framework Principles for Sustainable Palm Oil (GFP-SPO) at UN
PETALING JAYA: The efficiency and significant contribution of national sustainability schemes such as the Indonesian Sustainable Palm Oil (ISPO) and Malaysian Sustainable Palm Oil (MSPO) should be acknowledged, according to the Council of Palm Oil Producing Countries (CPOPC).
To address the misleading “palm oil-free” labels, the council will continue to support its member countries.
“The CPOPC cannot disregard emerging policies such as due diligence of the global supply chains and the deforestation-free commodities that could be unfair and biased,” said the council in a statement following the 23rd senior officials meeting in Langkawi, Kedah yesterday. The StarMY
---
Oil palm growers to supply Europe amid sunflower oil shortage
Oil palm growing nations will continue to supply the tropical oil to Europe as consumers in the region switch to alternatives due to the shortage of sunflower oil, according to the Council of Palm Oil Producing Countries.
Producers in Africa, Asia Pacific as well as Central and Latin America will provide sustainable palm oil in a timely manner, the group said Tuesday following a meeting of senior officials. The Edge Markets
---
Malaysia - Sustainability not enough: Malaysian palm oil sector pushes for better branding and consumer communication
The Malaysian palm oil sector is calling for the implementation of better branding and consumer communication strategies to increase its marketability, saying that providing high quality and sustainable products is not enough to achieve export recognition. Food Navigator Asia
---
German confectionery companies face collapse if regulations not lifted
The manufacturing side of the German confectionery industry is facing its worse crisis in 70 years and could grind to a halt as it struggles with the aftermath of the coronavirus pandemic and an impending gas shortage caused by the Russian invasion of Ukraine. Confectionery News
---
UK - Sunflower oil: UK bottler has a few weeks' supply left
The biggest cooking oil bottler for UK shops has said it only has a few weeks' supply of sunflower oil left.
Ukraine and Russia produce most of the world's sunflower oil and the war is disrupting exports, said Edible Oils.
The company, which packages oil for 75% of the UK retail market, is ramping up supplies of other oils for shoppers.
Meanwhile, manufacturers of foods that contain sunflower oil, like crisps, oven chips and cereal bars, are reworking their recipes.
The Food Standards Agency has advised people with allergies to look out for extra information from shops and food makers. BBC
---
Mexico - La Encrucijada’s Dilemma: Greenwashing Oil Palm in Chiapas
On Mexico’s Pacific coast, the government and businesses are trying to legalize a huge area of illegally-cultivated oil palm by reducing the size of an environmental reserve.
La Encrucijada Biosphere Reserve (REBIEN, Reserva de la Biosfera La Encrucijada), one of Mexico’s greatest environmental treasures, is home to an important system of wetlands, including mangroves up to 115 feet tall. These are threatened, though, by an enormous extension of monocrop oil palm plantations.
The REBIEN lies in the coastal region of Chiapas, in Mexico’s southeast. It was created by presidential decree on June 6, 1995 and is regulated by a Management Plan that was published in 2000. This states that in mangrove areas, activities “that alter the ecological equilibrium” are prohibited, except in cases of “preservation of scientific research, monitoring, education, and training, under strict regulation and supervision.”
However, over the last few decades, the ecological equilibrium in La Encrucijada has been altered. “There are more than 7,000 ha [17,300 acres] of palm planted inside the REBIEN,” said Juan Carlos Castro Hernández, current director of the REBIEN, who forms part of National Commission of Protected Areas (CONANP). Nacla
---
ri Lanka leader offers to share power as protests escalate
COLOMBO: Sri Lanka's embattled president offered to share po ..
Read more at:
http://timesofindia.indiatimes.com/articleshow/90642134.cms?utm_source=twitter.com&utm_medium=social&utm_campaign=TOIDesktop&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
---
India's March palm oil imports jump as Ukraine sunflower oil supply ceases
India's palm oil imports jumped 21% in March from the previous month as traders moved to secure alternatives to sunflower oil that can no longer be bought from Ukraine, four dealers told Reuters.
A poor soyoil crop in South America, meanwhile has limited India's ability to rely on that edible oil as a substitute for Ukrainian sunflower oil.
Indian demand contributed to the palm oil price, as indicated by the futures contract, reaching an all-time record of 7,268 ringgit per ton
Read more at:
https://economictimes.indiatimes.com/news/economy/foreign-trade/indias-march-palm-oil-imports-jump-as-ukraine-sunflower-oil-supply-ceases/articleshow/90638769.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
---
Child labour exposé in Ghana piles pressure on Cadbury
Cadbury faces claims that it is profiting from child labour after reports that children as young as ten have been working on cocoa farms that supply the confectioner.
An investigation concluded that children in Ghana who ought to have been in school were performing illegal work with machetes and knives. The farms belong to Cadbury’s Cocoa Life programme, which is partly aimed at eradicating child labour from its supply chain. The Times UK
---
Uganda looks to open new markets as Congo’s enters EAC
Summary: Uganda’s main exports to DRC include cement, palm oil, rice, sugar, refined petroleum, baked goods, cosmetics and iron materials.
After the Democratic Republic of Congo was officially admitted to the EAC, businessmen and traders in Uganda are excited about the potential it brings.
Congo adds more than 90 million people to 177 million East Africans. In the region, Uganda is the second largest exporter to Congo, after Rwanda.
East Africans can now freely go to Congo if the trade and movement barriers such as the $50 visa fee are removed. The DRC shares borders with all the East African countries except Kenya. The East African
---
(Press release) DOMINO’S RESPONSIBLE SOURCING INITIATIVE ALLOWS CUSTOMERS TO FEEL GOOD ABOUT WHAT’S IN THEIR PIZZA BOX
Domino’s also requires its partnering farms to practice the “five freedoms,” which are endorsed by the World Health Organization.
Domino’s describes these freedoms as:
Although palm oil is a necessary ingredient for many Domino’s products, the company has worked to minimize its impact on deforestation by sourcing 100% certified sustainable palm oil product through AAK USA. Domino’s does not use raw palm oil in any of its products. NWI Life
---
Indonesia, Malaysia to determine global pricing for palm oil
[JAKARTA] Malaysia and Indonesia agreed that global prices of palm oil should be determined by the two biggest producers and they should not compete, Prime Minister Ismail Sabri Yaakob said after meeting Indonesia's President Joko Widodo on Friday.
Palm oil prices were among several issues the two leaders discussed in their meeting in Jakarta, he said, without elaborating further on the palm oil discussion.
"Price of palm oil should be determined together by Malaysia and Indonesia and there should be no competition in terms of pricing because Malaysia and Indonesia are the two countries that control the total palm oil exports," Ismail Sabri said. Business TimesSG
---
PETALING JAYA: The efficiency and significant contribution of national sustainability schemes such as the Indonesian Sustainable Palm Oil (ISPO) and Malaysian Sustainable Palm Oil (MSPO) should be acknowledged, according to the Council of Palm Oil Producing Countries (CPOPC).
To address the misleading “palm oil-free” labels, the council will continue to support its member countries.
“The CPOPC cannot disregard emerging policies such as due diligence of the global supply chains and the deforestation-free commodities that could be unfair and biased,” said the council in a statement following the 23rd senior officials meeting in Langkawi, Kedah yesterday. The StarMY
---
Oil palm growers to supply Europe amid sunflower oil shortage
Oil palm growing nations will continue to supply the tropical oil to Europe as consumers in the region switch to alternatives due to the shortage of sunflower oil, according to the Council of Palm Oil Producing Countries.
Producers in Africa, Asia Pacific as well as Central and Latin America will provide sustainable palm oil in a timely manner, the group said Tuesday following a meeting of senior officials. The Edge Markets
---
Malaysia - Sustainability not enough: Malaysian palm oil sector pushes for better branding and consumer communication
The Malaysian palm oil sector is calling for the implementation of better branding and consumer communication strategies to increase its marketability, saying that providing high quality and sustainable products is not enough to achieve export recognition. Food Navigator Asia
---
German confectionery companies face collapse if regulations not lifted
The manufacturing side of the German confectionery industry is facing its worse crisis in 70 years and could grind to a halt as it struggles with the aftermath of the coronavirus pandemic and an impending gas shortage caused by the Russian invasion of Ukraine. Confectionery News
---
UK - Sunflower oil: UK bottler has a few weeks' supply left
The biggest cooking oil bottler for UK shops has said it only has a few weeks' supply of sunflower oil left.
Ukraine and Russia produce most of the world's sunflower oil and the war is disrupting exports, said Edible Oils.
The company, which packages oil for 75% of the UK retail market, is ramping up supplies of other oils for shoppers.
Meanwhile, manufacturers of foods that contain sunflower oil, like crisps, oven chips and cereal bars, are reworking their recipes.
The Food Standards Agency has advised people with allergies to look out for extra information from shops and food makers. BBC
---
Mexico - La Encrucijada’s Dilemma: Greenwashing Oil Palm in Chiapas
On Mexico’s Pacific coast, the government and businesses are trying to legalize a huge area of illegally-cultivated oil palm by reducing the size of an environmental reserve.
La Encrucijada Biosphere Reserve (REBIEN, Reserva de la Biosfera La Encrucijada), one of Mexico’s greatest environmental treasures, is home to an important system of wetlands, including mangroves up to 115 feet tall. These are threatened, though, by an enormous extension of monocrop oil palm plantations.
The REBIEN lies in the coastal region of Chiapas, in Mexico’s southeast. It was created by presidential decree on June 6, 1995 and is regulated by a Management Plan that was published in 2000. This states that in mangrove areas, activities “that alter the ecological equilibrium” are prohibited, except in cases of “preservation of scientific research, monitoring, education, and training, under strict regulation and supervision.”
However, over the last few decades, the ecological equilibrium in La Encrucijada has been altered. “There are more than 7,000 ha [17,300 acres] of palm planted inside the REBIEN,” said Juan Carlos Castro Hernández, current director of the REBIEN, who forms part of National Commission of Protected Areas (CONANP). Nacla
---
ri Lanka leader offers to share power as protests escalate
COLOMBO: Sri Lanka's embattled president offered to share po ..
Read more at:
http://timesofindia.indiatimes.com/articleshow/90642134.cms?utm_source=twitter.com&utm_medium=social&utm_campaign=TOIDesktop&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
---
India's March palm oil imports jump as Ukraine sunflower oil supply ceases
India's palm oil imports jumped 21% in March from the previous month as traders moved to secure alternatives to sunflower oil that can no longer be bought from Ukraine, four dealers told Reuters.
A poor soyoil crop in South America, meanwhile has limited India's ability to rely on that edible oil as a substitute for Ukrainian sunflower oil.
Indian demand contributed to the palm oil price, as indicated by the futures contract, reaching an all-time record of 7,268 ringgit per ton
Read more at:
https://economictimes.indiatimes.com/news/economy/foreign-trade/indias-march-palm-oil-imports-jump-as-ukraine-sunflower-oil-supply-ceases/articleshow/90638769.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
---
Child labour exposé in Ghana piles pressure on Cadbury
Cadbury faces claims that it is profiting from child labour after reports that children as young as ten have been working on cocoa farms that supply the confectioner.
An investigation concluded that children in Ghana who ought to have been in school were performing illegal work with machetes and knives. The farms belong to Cadbury’s Cocoa Life programme, which is partly aimed at eradicating child labour from its supply chain. The Times UK
---
Uganda looks to open new markets as Congo’s enters EAC
Summary: Uganda’s main exports to DRC include cement, palm oil, rice, sugar, refined petroleum, baked goods, cosmetics and iron materials.
After the Democratic Republic of Congo was officially admitted to the EAC, businessmen and traders in Uganda are excited about the potential it brings.
Congo adds more than 90 million people to 177 million East Africans. In the region, Uganda is the second largest exporter to Congo, after Rwanda.
East Africans can now freely go to Congo if the trade and movement barriers such as the $50 visa fee are removed. The DRC shares borders with all the East African countries except Kenya. The East African
---
(Press release) DOMINO’S RESPONSIBLE SOURCING INITIATIVE ALLOWS CUSTOMERS TO FEEL GOOD ABOUT WHAT’S IN THEIR PIZZA BOX
Domino’s also requires its partnering farms to practice the “five freedoms,” which are endorsed by the World Health Organization.
Domino’s describes these freedoms as:
- Freedom from hunger, malnutrition, and thirst
- Freedom from fear and distress
- Freedom from physical and thermal discomfort
- Freedom from pain, injury, and disease
- Freedom to express normal patterns of behavior
Although palm oil is a necessary ingredient for many Domino’s products, the company has worked to minimize its impact on deforestation by sourcing 100% certified sustainable palm oil product through AAK USA. Domino’s does not use raw palm oil in any of its products. NWI Life
---
Indonesia, Malaysia to determine global pricing for palm oil
[JAKARTA] Malaysia and Indonesia agreed that global prices of palm oil should be determined by the two biggest producers and they should not compete, Prime Minister Ismail Sabri Yaakob said after meeting Indonesia's President Joko Widodo on Friday.
Palm oil prices were among several issues the two leaders discussed in their meeting in Jakarta, he said, without elaborating further on the palm oil discussion.
"Price of palm oil should be determined together by Malaysia and Indonesia and there should be no competition in terms of pricing because Malaysia and Indonesia are the two countries that control the total palm oil exports," Ismail Sabri said. Business TimesSG
---
Indonesia, Malaysia Sign Agreement on Protection of Migrant Workers
JAKARTA (Reuters) - Indonesian President Joko Widodo and Malaysian Prime Minister Ismail Sabri Yaakob witnessed on Friday the signing of an agreement to improve protection for domestic migrant workers following a meeting between the leaders in Jakarta.
The memorandum of understanding between the Southeast Asian neighbours follows concerns about migrant worker safety after several incidents involving the abuse of Indonesian domestic workers in Malaysian households.
"This MoU will ensure that every process and protection mechanism...will be done comprehensively by all relevant parties, in accordance with the laws of the two countries," the Malaysian leader said after the agreement was signed at the state palace.
The MoU aims to put in place a system designed to match Indonesian domestic workers with suitable employers, part of initiatives which also include applications designed to strengthen wage protection and complaint mechanisms.
Malaysia's labour-starved palm oil industry has for months awaited the signing of a domestic worker agreement, which is expected to pave the way for the hiring of plantation workers. US News/ Reuters
---
Indonesia, Malaysia agree on palm oil non-competition, migrant worker protection
JAKARTA (REUTERS) - Malaysia and Indonesia agreed that global prices of palm oil should be determined by the two biggest producers and they should not compete, Prime Minister Ismail Sabri Yaakob said after meeting Indonesia's President Joko Widodo on Friday (April 1).
Palm oil prices were among several issues the two leaders discussed in their meeting in Jakarta, he said, without elaborating further on the palm oil discussion.
"Price of palm oil should be determined together by Malaysia and Indonesia and there should be no competition in terms of pricing because Malaysia and Indonesia are the two countries that control the total palm oil exports," Mr Ismail Sabri said.
The two South-east Asian nations account for roughly 85 per cent of the world's palm oil production.
However, top producer Indonesia is struggling to control cooking oil prices at home as producers refer to global prices in their production costs. Authorities have previously said domestic and international prices should not be linked. The Straits Times
---
Ukraine Sunflower Oil Crisis Hits Food From Chips to Cookies
Russia’s invasion of Ukraine has disrupted the supply of almost half of the world’s sunflower oil exports, forcing companies to turn to less desirable alternatives such as palm oil in products ranging from potato chips to cookies.
Thousands of items, also including ready meals and even wrapping paper, use sunflower oil. Prices are surging and the ingredient will only become more scarce from the summer as Ukrainian farmers may struggle to grow and export the crop.
“Sunflower oil prices have gone up 1,000%, but it is less about the price as the oils are often only a small constituent part of the products,” said Richard Walker, the managing director of grocery chain Iceland Foods. “The real challenge is getting your hands on it.” Bloomberg
---
Wageningen University & Research: Indonesian Deforestation And Palm Oil Plantation Expansion Slows Down
Much concern about tropical deforestation focuses on the expansion of oil palm plantations, but their impacts remain poorly quantified. Through a survey conducted in Indonesia from 2001 to 2019, scientists from seven countries representing six organisations took stock of and estimated the impact of large-scale and smallholder oil palm plantations on natural old growth, or primary, forests. The results of this new study were published in the journal PLOS One.
Palm oil cultivation plays an important role in loss of Indonesian old-growth forests
Concern for Indonesia’s unique rain forests and their species-rich communities, including charismatic animals such as orangutans, tigers, and elephants is nothing new. But in recent decades this has increasingly focused on the palm oil industry. In Indonesia, where half of global palm oil production occurs, expansion of oil palm plantations has often replaced forests. The researchers make a conservative estimate that oil palm was responsible for one-third of Indonesia’s loss of old-growth forests (9.79 million hectares cleared, or 11 percent of forest area in 2000) over the last two decades.
Palm oil is an ingredient in many of the packaged products found in supermarkets, including ready meals, baked goods, chocolate, cosmetics, and shampoo. It is also used as animal feed and increasingly as a biofuel. Research shows that expansion of industrial plantations and forest loss is closely correlated with palm oil prices. India Education Diary
JAKARTA (Reuters) - Indonesian President Joko Widodo and Malaysian Prime Minister Ismail Sabri Yaakob witnessed on Friday the signing of an agreement to improve protection for domestic migrant workers following a meeting between the leaders in Jakarta.
The memorandum of understanding between the Southeast Asian neighbours follows concerns about migrant worker safety after several incidents involving the abuse of Indonesian domestic workers in Malaysian households.
"This MoU will ensure that every process and protection mechanism...will be done comprehensively by all relevant parties, in accordance with the laws of the two countries," the Malaysian leader said after the agreement was signed at the state palace.
The MoU aims to put in place a system designed to match Indonesian domestic workers with suitable employers, part of initiatives which also include applications designed to strengthen wage protection and complaint mechanisms.
Malaysia's labour-starved palm oil industry has for months awaited the signing of a domestic worker agreement, which is expected to pave the way for the hiring of plantation workers. US News/ Reuters
---
Indonesia, Malaysia agree on palm oil non-competition, migrant worker protection
JAKARTA (REUTERS) - Malaysia and Indonesia agreed that global prices of palm oil should be determined by the two biggest producers and they should not compete, Prime Minister Ismail Sabri Yaakob said after meeting Indonesia's President Joko Widodo on Friday (April 1).
Palm oil prices were among several issues the two leaders discussed in their meeting in Jakarta, he said, without elaborating further on the palm oil discussion.
"Price of palm oil should be determined together by Malaysia and Indonesia and there should be no competition in terms of pricing because Malaysia and Indonesia are the two countries that control the total palm oil exports," Mr Ismail Sabri said.
The two South-east Asian nations account for roughly 85 per cent of the world's palm oil production.
However, top producer Indonesia is struggling to control cooking oil prices at home as producers refer to global prices in their production costs. Authorities have previously said domestic and international prices should not be linked. The Straits Times
---
Ukraine Sunflower Oil Crisis Hits Food From Chips to Cookies
Russia’s invasion of Ukraine has disrupted the supply of almost half of the world’s sunflower oil exports, forcing companies to turn to less desirable alternatives such as palm oil in products ranging from potato chips to cookies.
Thousands of items, also including ready meals and even wrapping paper, use sunflower oil. Prices are surging and the ingredient will only become more scarce from the summer as Ukrainian farmers may struggle to grow and export the crop.
“Sunflower oil prices have gone up 1,000%, but it is less about the price as the oils are often only a small constituent part of the products,” said Richard Walker, the managing director of grocery chain Iceland Foods. “The real challenge is getting your hands on it.” Bloomberg
---
Wageningen University & Research: Indonesian Deforestation And Palm Oil Plantation Expansion Slows Down
Much concern about tropical deforestation focuses on the expansion of oil palm plantations, but their impacts remain poorly quantified. Through a survey conducted in Indonesia from 2001 to 2019, scientists from seven countries representing six organisations took stock of and estimated the impact of large-scale and smallholder oil palm plantations on natural old growth, or primary, forests. The results of this new study were published in the journal PLOS One.
Palm oil cultivation plays an important role in loss of Indonesian old-growth forests
Concern for Indonesia’s unique rain forests and their species-rich communities, including charismatic animals such as orangutans, tigers, and elephants is nothing new. But in recent decades this has increasingly focused on the palm oil industry. In Indonesia, where half of global palm oil production occurs, expansion of oil palm plantations has often replaced forests. The researchers make a conservative estimate that oil palm was responsible for one-third of Indonesia’s loss of old-growth forests (9.79 million hectares cleared, or 11 percent of forest area in 2000) over the last two decades.
Palm oil is an ingredient in many of the packaged products found in supermarkets, including ready meals, baked goods, chocolate, cosmetics, and shampoo. It is also used as animal feed and increasingly as a biofuel. Research shows that expansion of industrial plantations and forest loss is closely correlated with palm oil prices. India Education Diary
|
|
|