Top News on Palm Oil. August 2022
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Read curated news that impacts the global palm oil industry.
CSPO Watch News. Making it easy for you to follow the palm oil industry
CSPO Watch News. Making it easy for you to follow the palm oil industry
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August 31, 2022
India-Patanjali lays foundation for palm oil mill in Arunachal, aims 38,000 ha plantation in entire northeast India
Aiming to undertake oil palm plantation across 38,000 hectares in Arunachal Pradesh, Patanjali Foods will on Wednesday lay the foundation stone for setting up of a mill in the state's East Siang district.
Aiming to undertake oil palm plantation across 38,000 hectares in Arunachal Pradesh, Patanjali Foods will on Wednesday lay the foundation stone for setting up of a mill in the state's East Siang district. "We have already established two nurseries at Pasighat and Holangi and are in the process of establishing three more nurseries in Lower Siang district at Kherram, FTC, and Dipa," it said in a statement.
The company believes it will give impetus to the state's economy and will generate employment with an increase in farmers' income. The company intends to cultivate oil palm across 5 lakh hectares across the country under National Mission on Edible Oils - Oil Palm, out of which 3.2 will be in the northeast region. DevDiscourse
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Japan’s Mitsui Chemicals invests in waste collection firm Apeiron Bioenergy
Japanese producer Mitsui Chemicals has invested in Apeiron Bioenergy, a collector and seller of used cooking oil in S.E Asia and China, the two firms said on Wednesday, without disclosing the value of the investment, reported ICIS.
“Apeiron Bioenergy has successfully closed an equity financing round from Mitsui Chemicals,” the Singapore-based firm said in a statement.
“The funds will support Apeiron to increase its collection capacity for waste-based feedstocks across Asian markets and position the company for exponential growth amidst growing demand for renewable feedstock for advanced biofuels such as sustainable aviation fuel (SAF),” it said.
Apeiron Bioenergy collects and processes a range of renewable feedstocks, including used cooking oil (UCO) and palm oil mill effluent (POME).
Mitsui Chemicals, in a separate statement, said that the investment will help “expand its procurement of biomass raw materials as it looks to meet growing demand for bio-based chemicals and plastics”.
The company plans to become carbon neutral by 2050. Bioenergy News
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BASF again achieves its Palm Commitment: 100 percent RSPO-certified palm (kernel) oil sourced in 2021
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KAO Corporation Launches Grievance Mechanism for Indonesian Oil Palm Smallholders
From September 2022, Kao Corporation, in collaboration with Caux Round Table Japan (CRT Japan Committee)*1 , an NPO forming a network of business leaders that promotes sustainable and socially responsible business, is launching operation of a grievance mechanism for oil palm smallholders in Indonesia. Complaints and inquiries from smallholders will be received and processed through the grievance mechanism, from their investigation to addressing and resolving them as well as follow-up and reporting. Kao will strive to resolve fundamental social and environmental issues related to palm oil, which is one of the most important natural resources for Kao's business, especially human rights issues at oil palm smallholders.
India-Patanjali lays foundation for palm oil mill in Arunachal, aims 38,000 ha plantation in entire northeast India
Aiming to undertake oil palm plantation across 38,000 hectares in Arunachal Pradesh, Patanjali Foods will on Wednesday lay the foundation stone for setting up of a mill in the state's East Siang district.
Aiming to undertake oil palm plantation across 38,000 hectares in Arunachal Pradesh, Patanjali Foods will on Wednesday lay the foundation stone for setting up of a mill in the state's East Siang district. "We have already established two nurseries at Pasighat and Holangi and are in the process of establishing three more nurseries in Lower Siang district at Kherram, FTC, and Dipa," it said in a statement.
The company believes it will give impetus to the state's economy and will generate employment with an increase in farmers' income. The company intends to cultivate oil palm across 5 lakh hectares across the country under National Mission on Edible Oils - Oil Palm, out of which 3.2 will be in the northeast region. DevDiscourse
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Japan’s Mitsui Chemicals invests in waste collection firm Apeiron Bioenergy
Japanese producer Mitsui Chemicals has invested in Apeiron Bioenergy, a collector and seller of used cooking oil in S.E Asia and China, the two firms said on Wednesday, without disclosing the value of the investment, reported ICIS.
“Apeiron Bioenergy has successfully closed an equity financing round from Mitsui Chemicals,” the Singapore-based firm said in a statement.
“The funds will support Apeiron to increase its collection capacity for waste-based feedstocks across Asian markets and position the company for exponential growth amidst growing demand for renewable feedstock for advanced biofuels such as sustainable aviation fuel (SAF),” it said.
Apeiron Bioenergy collects and processes a range of renewable feedstocks, including used cooking oil (UCO) and palm oil mill effluent (POME).
Mitsui Chemicals, in a separate statement, said that the investment will help “expand its procurement of biomass raw materials as it looks to meet growing demand for bio-based chemicals and plastics”.
The company plans to become carbon neutral by 2050. Bioenergy News
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BASF again achieves its Palm Commitment: 100 percent RSPO-certified palm (kernel) oil sourced in 2021
- 242,946 metric tons of certified palm oil and palm kernel oil procured
- More than 330,000 metric tons CO2 avoided by sourcing certified sustainable palm kernel oil
- 6th edition of Palm Progress report launched
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KAO Corporation Launches Grievance Mechanism for Indonesian Oil Palm Smallholders
From September 2022, Kao Corporation, in collaboration with Caux Round Table Japan (CRT Japan Committee)*1 , an NPO forming a network of business leaders that promotes sustainable and socially responsible business, is launching operation of a grievance mechanism for oil palm smallholders in Indonesia. Complaints and inquiries from smallholders will be received and processed through the grievance mechanism, from their investigation to addressing and resolving them as well as follow-up and reporting. Kao will strive to resolve fundamental social and environmental issues related to palm oil, which is one of the most important natural resources for Kao's business, especially human rights issues at oil palm smallholders.
- *1 Established a comprehensive initiative support program in partnership with global initiative organizations that focuses on the implementation of the United Nations Guiding Principles for Business and Human Rights in companies.
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August 30, 2022
Putting sustainable, equitable palm oil on the G20 recovery agenda
Stakeholders at policy dialogue explore priorities for December talks
Diverse ways to improve the environmental footprint and equitability of the palm oil trade took center stage at an online policy dialogue on 22 March, 2022.
The event was hosted by CIFOR-ICRAF as part of GCRF TRADE Hub activities in Indonesia, which is funded by the UK Research and Innovation Global Challenges Research Fund and led by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC). It gathered representatives from government, academia, the private sector, and civil society to tease out some of the knotty issues associated with the palm oil trade, ahead of the 17th leaders’ summit for the G20, a multilateral cooperation forum that represents the world’s major developed and emerging economies. CIFOR
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India-3F Oil Palm To Kick Start Arunachal Pradesh Investment By Investing INR 250 CR To Set Up One Of The Largest And First Of Its Kind State-Of-The-Art Integrated Oil Palm Factory In Arunachal Pradesh
Hyderabad : Hyderabad based 3F Oil Palm Pvt. Ltd, a leading oil palm company in India, today announced that it will kick off its investment in the northeast by setting up an integrated Oil Palm factory in Arunachal Pradesh. The factory groundbreaking ceremony will take place on 30th September 2022 at Roing in lower Dibang Valley. The company had already acquired 120 acres of land for the project in the month of February. All necessary approvals and statutory clearances pertaining to the land were also obtained. The integrated Oil palm project will consist of a State-of-the-art Oil palm factory (Palm Oil Processing and Refinery), a Zero discharge effluent plant, a power plant based on palm waste, and other buildings and godowns for support functions. The addition of this factory will supplement the existing company operations that include Nursery, Area Expansion/ Crop Maintenance, FFB Harvesting and Collection and other ancillary farmer services. The factory is set to be developed in 2 phases and phase 1 is expected to be commissioned by September 2023. Phase 1 of the project is expected to generate local employment to over 300 people.
3F Oil Palm Pvt Ltd is a front runner and pioneer in the Oil Palm Development program in Arunachal Pradesh with total Oil Palm Area under planting of around 2,000 hectares spread across a farmer base of 500 Farmers. All the area under Oil Palm is linked to satellite with 100% traceability. The company is the first in the state to import high quality hybrid variety imported seed sprout from selected identified countries, for the benefit of the farmer. The company is also the first to be allotted a fertilizer distribution license for timely and cost effective supply of fertilizers to the farmers. Both of these initiatives are expected to significantly increase farmer yields and promote ease of planting. With all of these firsts and the additional traction created by the Oil Palm Factory, the company is expected to add 5000 Ha per year over the next 5 years. International News and Views
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Malaysia-Ministry will ensure smallholders' rights are defended, says Zuraida
KUALA LUMPUR: Only 24 per cent of the country's land have been allocated for livestock and 29 per cent for crop cultivation in 2019, despite the mislabelling of agriculture as the major culprit for deforestation.
The Plantation Industries and Commodities Ministry said of the 29 per cent share of deforestation being due to agricultural crops, those that contributed most to deforestation was soybean (19 per cent) followed by maize (11 per cent). Oil palm contributed a meagre eight per cent, rice at six per cent and sugarcane at five per cent.
"Therefore, Malaysia is determined to foster a cordial engagement with the European Union and the United States in search of a win-win solution that can benefit the palm oil industry at large, although both the trade bloc and world's largest economy have remained a staunch opposition of the palm oil trade since 2003.
"Specifically with the EU, engagements are currently being held through various platforms, for example the Asean-EU Joint Working Group, seminars or webinars, and dialogue or discussions via economic and palm oil promotion missions," said its minister Datuk Zuraida Kamaruddin. New Straits Times
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Indonesia extends zero export levy on palm oil
The extension of the zero export levy is aimed at maintaining the current momentum in which crude palm oil (CPO) price has begun to stabilize, cooking oil price has begun to decline, and fresh fruit bunch price has begun to increase so that farmers
Jakarta (ANTARA) - The Indonesian government has decided to extend the zero export levy on all palm oil products until October 31, 2022.
"The extension of the zero export levy is aimed at maintaining the current momentum in which crude palm oil (CPO) price has begun to stabilize, cooking oil price has begun to decline, and fresh fruit bunch price has begun to increase so that farmers have begun to enjoy the benefit," Coordinating Minister for Economic Affairs Airlangga Hartarto said in a written statement issued in Jakarta on Monday.
As of July 15, the government has temporarily cut the export levy for CPO to zero from US$200 per ton as well as for other palm oil products as part of efforts to boost CPO exports and reduce the oversupply of fresh fruit bunches.
The decision to extend the zero export levy was taken at a virtual meeting of the steering committee of the Palm Oil Plantation Fund Management Board (BPDPKS) on Sunday (August 28). Antara News
Putting sustainable, equitable palm oil on the G20 recovery agenda
Stakeholders at policy dialogue explore priorities for December talks
Diverse ways to improve the environmental footprint and equitability of the palm oil trade took center stage at an online policy dialogue on 22 March, 2022.
The event was hosted by CIFOR-ICRAF as part of GCRF TRADE Hub activities in Indonesia, which is funded by the UK Research and Innovation Global Challenges Research Fund and led by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC). It gathered representatives from government, academia, the private sector, and civil society to tease out some of the knotty issues associated with the palm oil trade, ahead of the 17th leaders’ summit for the G20, a multilateral cooperation forum that represents the world’s major developed and emerging economies. CIFOR
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India-3F Oil Palm To Kick Start Arunachal Pradesh Investment By Investing INR 250 CR To Set Up One Of The Largest And First Of Its Kind State-Of-The-Art Integrated Oil Palm Factory In Arunachal Pradesh
Hyderabad : Hyderabad based 3F Oil Palm Pvt. Ltd, a leading oil palm company in India, today announced that it will kick off its investment in the northeast by setting up an integrated Oil Palm factory in Arunachal Pradesh. The factory groundbreaking ceremony will take place on 30th September 2022 at Roing in lower Dibang Valley. The company had already acquired 120 acres of land for the project in the month of February. All necessary approvals and statutory clearances pertaining to the land were also obtained. The integrated Oil palm project will consist of a State-of-the-art Oil palm factory (Palm Oil Processing and Refinery), a Zero discharge effluent plant, a power plant based on palm waste, and other buildings and godowns for support functions. The addition of this factory will supplement the existing company operations that include Nursery, Area Expansion/ Crop Maintenance, FFB Harvesting and Collection and other ancillary farmer services. The factory is set to be developed in 2 phases and phase 1 is expected to be commissioned by September 2023. Phase 1 of the project is expected to generate local employment to over 300 people.
3F Oil Palm Pvt Ltd is a front runner and pioneer in the Oil Palm Development program in Arunachal Pradesh with total Oil Palm Area under planting of around 2,000 hectares spread across a farmer base of 500 Farmers. All the area under Oil Palm is linked to satellite with 100% traceability. The company is the first in the state to import high quality hybrid variety imported seed sprout from selected identified countries, for the benefit of the farmer. The company is also the first to be allotted a fertilizer distribution license for timely and cost effective supply of fertilizers to the farmers. Both of these initiatives are expected to significantly increase farmer yields and promote ease of planting. With all of these firsts and the additional traction created by the Oil Palm Factory, the company is expected to add 5000 Ha per year over the next 5 years. International News and Views
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Malaysia-Ministry will ensure smallholders' rights are defended, says Zuraida
KUALA LUMPUR: Only 24 per cent of the country's land have been allocated for livestock and 29 per cent for crop cultivation in 2019, despite the mislabelling of agriculture as the major culprit for deforestation.
The Plantation Industries and Commodities Ministry said of the 29 per cent share of deforestation being due to agricultural crops, those that contributed most to deforestation was soybean (19 per cent) followed by maize (11 per cent). Oil palm contributed a meagre eight per cent, rice at six per cent and sugarcane at five per cent.
"Therefore, Malaysia is determined to foster a cordial engagement with the European Union and the United States in search of a win-win solution that can benefit the palm oil industry at large, although both the trade bloc and world's largest economy have remained a staunch opposition of the palm oil trade since 2003.
"Specifically with the EU, engagements are currently being held through various platforms, for example the Asean-EU Joint Working Group, seminars or webinars, and dialogue or discussions via economic and palm oil promotion missions," said its minister Datuk Zuraida Kamaruddin. New Straits Times
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Indonesia extends zero export levy on palm oil
The extension of the zero export levy is aimed at maintaining the current momentum in which crude palm oil (CPO) price has begun to stabilize, cooking oil price has begun to decline, and fresh fruit bunch price has begun to increase so that farmers
Jakarta (ANTARA) - The Indonesian government has decided to extend the zero export levy on all palm oil products until October 31, 2022.
"The extension of the zero export levy is aimed at maintaining the current momentum in which crude palm oil (CPO) price has begun to stabilize, cooking oil price has begun to decline, and fresh fruit bunch price has begun to increase so that farmers have begun to enjoy the benefit," Coordinating Minister for Economic Affairs Airlangga Hartarto said in a written statement issued in Jakarta on Monday.
As of July 15, the government has temporarily cut the export levy for CPO to zero from US$200 per ton as well as for other palm oil products as part of efforts to boost CPO exports and reduce the oversupply of fresh fruit bunches.
The decision to extend the zero export levy was taken at a virtual meeting of the steering committee of the Palm Oil Plantation Fund Management Board (BPDPKS) on Sunday (August 28). Antara News
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August 29, 2022
Indonesia-Transitioning to clean energy will be national policy direction: govt
Jakarta (ANTARA) - Energy and Mineral Resources (ESDM) Minister Arifin Tasrif affirmed that the direction of the national energy policy going forward is energy transition from fossil fuels to clean energy to lower emissions and be environment friendly.
"The energy transition is needed to improve national energy security, given that fossil fuel reserves are limited," he stated during a national seminar titled "Patriot Energy 2022" that was monitored here on Monday.
Tasrif remarked that Indonesia still has large enough potential for new and renewable energy (EBT), reaching more than three thousand gigawatts, such as solar, hydrogen, bioenergy, biomass, geothermal, and also marine resources.
Hence, the ministry strongly supports people-centric energy transitions that not only include the transition to cleaner energy but also the provision of job opportunities and skills, increased social and economic development, and equality and justice, as well as actively involve the community. Antara News
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Indonesia increases 2022 biodiesel allocation to 11.03 mln kl
JAKARTA, Aug 29 (Reuters) - Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said on Monday.
Indonesia has also decided to extend its export levy waiver until Oct. 31. The world's top palm oil exporter has waived palm oil export levy since mid-July.
Reporting by Bernadette Christina Munthe Writing by Ananda Teresia, Fransiska Nangoy Editing by Kanupriya Kapoor) Nasdaq/ Reuters
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Malaysia-Sabah’s mid-sized oil palm planters band together for sustainability push
KOTA KINABALU, Aug 29 — Medium-sized oil palm producers in the state will soon adopt sustainable practices under the Malaysian Sustainable Palm Oil (MSPO) and Roundtable on Sustainable Palm Oil (RSPO) certification standards.
This comes after the first meeting of the Koperasi Lestari Penanam Sawit Sabah Berhad (Klass), a cooperative to assist the producers get group accreditation under the two certification standards.
“Businesses are often discouraged from pursuing certification as it is costly. The newly formed cooperative will serve as a platform to support its members’ certifications by sharing costs and applying industry best practices to achieve group certification under MSPO and RSPO standards,” said Koperasi Klass protem chairman Hamka Kasma. Malay Mail
Indonesia-Transitioning to clean energy will be national policy direction: govt
Jakarta (ANTARA) - Energy and Mineral Resources (ESDM) Minister Arifin Tasrif affirmed that the direction of the national energy policy going forward is energy transition from fossil fuels to clean energy to lower emissions and be environment friendly.
"The energy transition is needed to improve national energy security, given that fossil fuel reserves are limited," he stated during a national seminar titled "Patriot Energy 2022" that was monitored here on Monday.
Tasrif remarked that Indonesia still has large enough potential for new and renewable energy (EBT), reaching more than three thousand gigawatts, such as solar, hydrogen, bioenergy, biomass, geothermal, and also marine resources.
Hence, the ministry strongly supports people-centric energy transitions that not only include the transition to cleaner energy but also the provision of job opportunities and skills, increased social and economic development, and equality and justice, as well as actively involve the community. Antara News
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Indonesia increases 2022 biodiesel allocation to 11.03 mln kl
JAKARTA, Aug 29 (Reuters) - Indonesia raised its 2022 biodiesel allocation to 11.03 million kilolitres from 10.15 million, following an expectation of rising diesel consumption in the fourth quarter this year, chief economic minister, Airlangga Hartarto, said on Monday.
Indonesia has also decided to extend its export levy waiver until Oct. 31. The world's top palm oil exporter has waived palm oil export levy since mid-July.
Reporting by Bernadette Christina Munthe Writing by Ananda Teresia, Fransiska Nangoy Editing by Kanupriya Kapoor) Nasdaq/ Reuters
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Malaysia-Sabah’s mid-sized oil palm planters band together for sustainability push
KOTA KINABALU, Aug 29 — Medium-sized oil palm producers in the state will soon adopt sustainable practices under the Malaysian Sustainable Palm Oil (MSPO) and Roundtable on Sustainable Palm Oil (RSPO) certification standards.
This comes after the first meeting of the Koperasi Lestari Penanam Sawit Sabah Berhad (Klass), a cooperative to assist the producers get group accreditation under the two certification standards.
“Businesses are often discouraged from pursuing certification as it is costly. The newly formed cooperative will serve as a platform to support its members’ certifications by sharing costs and applying industry best practices to achieve group certification under MSPO and RSPO standards,” said Koperasi Klass protem chairman Hamka Kasma. Malay Mail
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August 26, 2022
Indonesia A Surprise Winner as Emerging Markets Crumble
Developing nations are reeling from the double whammy of Federal Reserve interest-rate hikes and China’s economic slowdown. They are burning through foreign reserves at the fastest pace since the 2008, to defend their currencies and cover higher import bills for food and fuel. Foreign investors are heading for the exits, while frontier economies such as Sri Lanka and Bangladesh have sought bailouts from the International Monetary Fund. The picture is not pretty.
Amid the chaos is a surprise winner. Indonesia, which was singled out as a Fragile Five less than a decade ago for its vulnerable currency and reliance on hot foreign money, has been a haven of relative calm.
The rupiah, down only 3.8%, is the third best-performing Asian currency this year. It’s all the more remarkable considering Bank Indonesia has resisted following the Fed and only began raising interest rates this week, by a modest 25 basis points. Washington Post
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India-SEA asks Indonesia to ensure stable policy for palm oil exports
Trade Minister Zulkifli Hasan assures there will no supply crunch from his side
A delegation of the Solvent Extractors’ Association of India (SEA) — which met an Indonesian delegation headed by Zulkifli Hasan, Minister of Trade, in New Delhi recently — has advised Indonesia to ensure a stable policy for the export of palm oil from that country. The Hindu Businessline
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EU Deforestation regulation outcry
It’s still very quiet in Brussels but trade policy has started stirring ahead of a packed rentrée next week.
14 Asian, Latin American and African countries protest EU deforestation regulation design
A letter sent by fourteen developing countries to the presidents of the European Commission, the European Council, the European Parliament and the Czech Presidency of the EU in the depths of summer has tried to raise attention to their concerns as the EU ploughs on with regulating imports of products that could lead to deforestation (look up our relevant section for details).
The countries write that “the concerns expressed by developing countries in formal public consultations about the proposed legislation have, regrettably, been given scarce consideration”.
The draft legislation as it stands “disregards the local conditions and national legislations of developing producing countries, their efforts to fight deforestation, and, recalling the principle of common but differentiated responsibilities, also the EU member states, on their historical role in deforestation activities and climate change”. Borderlex
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Indonesia's wealth fund to invest in expansion of port in Malacca Strait
Indonesian state-owned port operator Pelindo and a consortium of the country's sovereign wealth fund and logistics firm DP World have agreed to invest in the expansion of the Belawan port in Sumatra island, the companies said on Thursday.
The deal, the value of which was not disclosed, is part of a US$7.5 billion (RM33.54 billion) partnership between the Indonesia Investment Authority (INA) and Dubai-based DP World, according to a joint statement issued by Pelindo and the INA.
Under the agreement, Pelindo and the consortium will manage the Belawan New Container Terminal (BNCT) with the aim of transforming the port by increasing terminal capacity, direct calls, and its connectivity with other small ports. The Edge Markets
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Malaysia-CGS-CIMB Futures launches first shariah-compliant futures
KUALA LUMPUR: CGS-CIMB Futures Sdn Bhd has launched its first shariah-compliant futures (SCF) to improve local investor access and cater to the growing demand for sustainable investing.
Investors can now trade crude palm oil futures (FCPO) and palm kernel oil futures (FPKO) which are listed on Bursa Malaysia Derivatives in a shariah-compliant environment.
CGS-CIMB Securities chief executive officer and group head of Islamic Investment Services Ruzi Rani Ajith said the goal of SCF is to offer investors opportunities to invest according to their principles to achieve their investment goals, as well as to generate sustainable and positive impact.
"We have received overwhelming responses from investors since its soft launch during the Invest Shariah Conference 2022 in collaboration with Bursa Malaysia," she said. New Straits Times
Indonesia A Surprise Winner as Emerging Markets Crumble
Developing nations are reeling from the double whammy of Federal Reserve interest-rate hikes and China’s economic slowdown. They are burning through foreign reserves at the fastest pace since the 2008, to defend their currencies and cover higher import bills for food and fuel. Foreign investors are heading for the exits, while frontier economies such as Sri Lanka and Bangladesh have sought bailouts from the International Monetary Fund. The picture is not pretty.
Amid the chaos is a surprise winner. Indonesia, which was singled out as a Fragile Five less than a decade ago for its vulnerable currency and reliance on hot foreign money, has been a haven of relative calm.
The rupiah, down only 3.8%, is the third best-performing Asian currency this year. It’s all the more remarkable considering Bank Indonesia has resisted following the Fed and only began raising interest rates this week, by a modest 25 basis points. Washington Post
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India-SEA asks Indonesia to ensure stable policy for palm oil exports
Trade Minister Zulkifli Hasan assures there will no supply crunch from his side
A delegation of the Solvent Extractors’ Association of India (SEA) — which met an Indonesian delegation headed by Zulkifli Hasan, Minister of Trade, in New Delhi recently — has advised Indonesia to ensure a stable policy for the export of palm oil from that country. The Hindu Businessline
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EU Deforestation regulation outcry
It’s still very quiet in Brussels but trade policy has started stirring ahead of a packed rentrée next week.
14 Asian, Latin American and African countries protest EU deforestation regulation design
A letter sent by fourteen developing countries to the presidents of the European Commission, the European Council, the European Parliament and the Czech Presidency of the EU in the depths of summer has tried to raise attention to their concerns as the EU ploughs on with regulating imports of products that could lead to deforestation (look up our relevant section for details).
The countries write that “the concerns expressed by developing countries in formal public consultations about the proposed legislation have, regrettably, been given scarce consideration”.
The draft legislation as it stands “disregards the local conditions and national legislations of developing producing countries, their efforts to fight deforestation, and, recalling the principle of common but differentiated responsibilities, also the EU member states, on their historical role in deforestation activities and climate change”. Borderlex
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Indonesia's wealth fund to invest in expansion of port in Malacca Strait
Indonesian state-owned port operator Pelindo and a consortium of the country's sovereign wealth fund and logistics firm DP World have agreed to invest in the expansion of the Belawan port in Sumatra island, the companies said on Thursday.
The deal, the value of which was not disclosed, is part of a US$7.5 billion (RM33.54 billion) partnership between the Indonesia Investment Authority (INA) and Dubai-based DP World, according to a joint statement issued by Pelindo and the INA.
Under the agreement, Pelindo and the consortium will manage the Belawan New Container Terminal (BNCT) with the aim of transforming the port by increasing terminal capacity, direct calls, and its connectivity with other small ports. The Edge Markets
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Malaysia-CGS-CIMB Futures launches first shariah-compliant futures
KUALA LUMPUR: CGS-CIMB Futures Sdn Bhd has launched its first shariah-compliant futures (SCF) to improve local investor access and cater to the growing demand for sustainable investing.
Investors can now trade crude palm oil futures (FCPO) and palm kernel oil futures (FPKO) which are listed on Bursa Malaysia Derivatives in a shariah-compliant environment.
CGS-CIMB Securities chief executive officer and group head of Islamic Investment Services Ruzi Rani Ajith said the goal of SCF is to offer investors opportunities to invest according to their principles to achieve their investment goals, as well as to generate sustainable and positive impact.
"We have received overwhelming responses from investors since its soft launch during the Invest Shariah Conference 2022 in collaboration with Bursa Malaysia," she said. New Straits Times
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August 25, 2022
Indonesia-Minister urges regional heads to support palm oil industry
Palangka Raya, Kalteng (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto appealed to regional heads to support sustainability of the palm oil industry in their respective regions since the agricultural subsector contributed significantly to the economy.
"Palm oil exports must be strengthened due to the current high global commodity prices," Hartarto noted during his virtual speech at the 5th Borneo Forum in Palangka Raya, Central Kalimantan, on Wednesday.
Hartarto called to also focus on the development of downstream palm oil products to provide added value. The government is optimistic that Indonesia would be able to export more palm oil derivative products than export raw materials, such as crude palm oil (CPO).
"Development of the downstream industry is a strategic effort to increase the added value of the palm oil industry. We must support industry downstreaming to the final product to bring more added value to the national economy," he affirmed.
He addressed that the government paid attention to the sustainability aspect of the palm oil industry to realize an environmentally friendly industry in line with the Sustainable Development Goals (SDGs). Antara News
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Indonesia-Palm oil industry should aid in increasing public welfare: Minister
The large contribution of the palm oil plantation sector must be accompanied by sustainability for the environment and the wider community
Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto believes that existence of the palm oil industry and its products should be able to increase the people's welfare.
"We need to continue to encourage this high export potential in line with the price increase in palm oil commodities for the welfare of the community," Hartarto noted at the 5th Borneo Forum organized by the Indonesian Palm Oil Association (Gapki), as quoted from an official statement received here, Wednesday.
He remarked that the palm oil industry should be able to build rural progress, reduce poverty significantly, and absorb a high number of workers.
In addition, development of this industry must prioritize aspects of sustainability for the environment and society in order to comply with the principles of sustainable development, Hartarto stated.
"The large contribution of the palm oil plantation sector must be accompanied by sustainability for the environment and the wider community," he remarked. Antara News
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Indonesia-Perspectives on the latest State of the World’s Forests report in the Indonesian context
A rare bright spot in the Food and Agriculture Organization of the United Nations (FAO)’s 2022 ‘State of the World’s Forests’ (SOFO) report, which was launched during the XV World Forestry Congress in Seoul this month, was Indonesia’s successful efforts to bring down deforestation.
After suffering the consequences of widespread, destructive forest fires in 2015, the country has introduced a series of policies to protect and restore forests, as well as scaling up monitoring for seasonal fires, whilst the palm oil industry has made significant efforts to become more sustainable. As a result, the country’s primary forest losses have declined for the fifth year in a row – down 25% from 2020.
Forests News (FN) spoke to Center for International Forestry Research–World Agroforestry Center (CIFOR-ICRAF) senior scientists Herry Purnomo (HP) and Sonya Dewi (SD) about their reactions to the SOFO 2022 report, and their hopes for the country’s trajectory going forward. Forest News CIFOR
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India-Godrej Agrovet to enter palm oil refining
The diversified agribusiness player is looking at this opportunity now with renewed momentum in the sector following the introduction in 2021 of the National Mission on Edible Oil — Oil Palm
Mumbai: Godrej Agrovet, the country’s largest oil palm cultivator and palm oil processor, is looking to set up two greenfield refining projects in Andhra Pradesh and Mizoram, which will help to reduce imports.
The diversified agribusiness player is looking at this opportunity now with renewed momentum in the sector following the introduction in 2021 of the National Mission on Edible Oil — Oil Palm (NMEO-OP).
“Our first refinery, in Andhra Pradesh, will be commissioned by the end of the current fiscal,” Sougata Niyogi, Godrej Agrovet’s CEO for the oil palm business vertical, told The Free Press Journal.
“It can cater to our captive need originating from oil palm work in the southern states along with demand from other crude palm oil players in the region,” Niyogi said.
“We may also look at another unit in the Northeast, which will cater to demand from the region, where our cultivation and development is expanding to three more states —Assam, Tripura and Manipur — in addition to the existing plantations in Mizoram.”
Godrej Agro, which signed new memoranda of understanding with the three states on Tuesday, also plans to increase its acreage of oil palm cultivation to 1 lakh hectares from the current 65,000 over the next three years. Free Press Journal
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Producing Biodiesel from Palm Kernel Shells
A new paper appearing in the journal Environmental Research has explored the production of biodiesel from palm kernel shells, an agricultural waste stream. Scientists from Malaysia, Brunei, and Oman have contributed to the research.
Biodiesel: A Key Energy Product
Biodiesel offers several benefits over traditional fossil-fuel-based diesel in terms of sustainability and environmental friendliness. This green fuel product is biodegradable, renewable, and biocompatible, with significantly less pollution produced during its manufacture and commercial use.
According to research by the Environmental Protection Agency, biodiesel emits 11% less CO and 10% less particular matter than conventional diesel, making it a cleaner product. Moreover, a study commissioned by the Department of Energy and Agriculture has indicated that net CO2 emissions are reduced by 78% compared to conventional fossil fuel-derived diesel.
Biodiesel can be produced from a wide range of crops and agricultural waste products. Utilizing waste streams from the agricultural and food industries is highly beneficial as it reduces the amount of land use in favor of growing food and animal feed. Moreover, valorizing waste streams is in line with the aims of the circular economy, which seeks to reduce waste by turning it into value-added products. AZO Materials
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Indonesia-Minister urges regional heads to support palm oil industry
Palangka Raya, Kalteng (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto appealed to regional heads to support sustainability of the palm oil industry in their respective regions since the agricultural subsector contributed significantly to the economy.
"Palm oil exports must be strengthened due to the current high global commodity prices," Hartarto noted during his virtual speech at the 5th Borneo Forum in Palangka Raya, Central Kalimantan, on Wednesday.
Hartarto called to also focus on the development of downstream palm oil products to provide added value. The government is optimistic that Indonesia would be able to export more palm oil derivative products than export raw materials, such as crude palm oil (CPO).
"Development of the downstream industry is a strategic effort to increase the added value of the palm oil industry. We must support industry downstreaming to the final product to bring more added value to the national economy," he affirmed.
He addressed that the government paid attention to the sustainability aspect of the palm oil industry to realize an environmentally friendly industry in line with the Sustainable Development Goals (SDGs). Antara News
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Indonesia-Palm oil industry should aid in increasing public welfare: Minister
The large contribution of the palm oil plantation sector must be accompanied by sustainability for the environment and the wider community
Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto believes that existence of the palm oil industry and its products should be able to increase the people's welfare.
"We need to continue to encourage this high export potential in line with the price increase in palm oil commodities for the welfare of the community," Hartarto noted at the 5th Borneo Forum organized by the Indonesian Palm Oil Association (Gapki), as quoted from an official statement received here, Wednesday.
He remarked that the palm oil industry should be able to build rural progress, reduce poverty significantly, and absorb a high number of workers.
In addition, development of this industry must prioritize aspects of sustainability for the environment and society in order to comply with the principles of sustainable development, Hartarto stated.
"The large contribution of the palm oil plantation sector must be accompanied by sustainability for the environment and the wider community," he remarked. Antara News
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Indonesia-Perspectives on the latest State of the World’s Forests report in the Indonesian context
A rare bright spot in the Food and Agriculture Organization of the United Nations (FAO)’s 2022 ‘State of the World’s Forests’ (SOFO) report, which was launched during the XV World Forestry Congress in Seoul this month, was Indonesia’s successful efforts to bring down deforestation.
After suffering the consequences of widespread, destructive forest fires in 2015, the country has introduced a series of policies to protect and restore forests, as well as scaling up monitoring for seasonal fires, whilst the palm oil industry has made significant efforts to become more sustainable. As a result, the country’s primary forest losses have declined for the fifth year in a row – down 25% from 2020.
Forests News (FN) spoke to Center for International Forestry Research–World Agroforestry Center (CIFOR-ICRAF) senior scientists Herry Purnomo (HP) and Sonya Dewi (SD) about their reactions to the SOFO 2022 report, and their hopes for the country’s trajectory going forward. Forest News CIFOR
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India-Godrej Agrovet to enter palm oil refining
The diversified agribusiness player is looking at this opportunity now with renewed momentum in the sector following the introduction in 2021 of the National Mission on Edible Oil — Oil Palm
Mumbai: Godrej Agrovet, the country’s largest oil palm cultivator and palm oil processor, is looking to set up two greenfield refining projects in Andhra Pradesh and Mizoram, which will help to reduce imports.
The diversified agribusiness player is looking at this opportunity now with renewed momentum in the sector following the introduction in 2021 of the National Mission on Edible Oil — Oil Palm (NMEO-OP).
“Our first refinery, in Andhra Pradesh, will be commissioned by the end of the current fiscal,” Sougata Niyogi, Godrej Agrovet’s CEO for the oil palm business vertical, told The Free Press Journal.
“It can cater to our captive need originating from oil palm work in the southern states along with demand from other crude palm oil players in the region,” Niyogi said.
“We may also look at another unit in the Northeast, which will cater to demand from the region, where our cultivation and development is expanding to three more states —Assam, Tripura and Manipur — in addition to the existing plantations in Mizoram.”
Godrej Agro, which signed new memoranda of understanding with the three states on Tuesday, also plans to increase its acreage of oil palm cultivation to 1 lakh hectares from the current 65,000 over the next three years. Free Press Journal
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Producing Biodiesel from Palm Kernel Shells
A new paper appearing in the journal Environmental Research has explored the production of biodiesel from palm kernel shells, an agricultural waste stream. Scientists from Malaysia, Brunei, and Oman have contributed to the research.
Biodiesel: A Key Energy Product
Biodiesel offers several benefits over traditional fossil-fuel-based diesel in terms of sustainability and environmental friendliness. This green fuel product is biodegradable, renewable, and biocompatible, with significantly less pollution produced during its manufacture and commercial use.
According to research by the Environmental Protection Agency, biodiesel emits 11% less CO and 10% less particular matter than conventional diesel, making it a cleaner product. Moreover, a study commissioned by the Department of Energy and Agriculture has indicated that net CO2 emissions are reduced by 78% compared to conventional fossil fuel-derived diesel.
Biodiesel can be produced from a wide range of crops and agricultural waste products. Utilizing waste streams from the agricultural and food industries is highly beneficial as it reduces the amount of land use in favor of growing food and animal feed. Moreover, valorizing waste streams is in line with the aims of the circular economy, which seeks to reduce waste by turning it into value-added products. AZO Materials
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August 24, 2022
Indonesia-Soaring Fuel Prices Explain Indonesia's Push for Biofuels
The geopolitical crisis resulting from the protracted Russia-Ukraine war has triggered a steep rise in global energy prices, including the price of crude oil. Indonesia, an oil net importer, has felt the pinch of soaring crude oil prices. Its fuel subsidy, budgeted at Rp 207 trillion (US$14 billion) for this year, is projected to swell to Rp 502 trillion.
President Joko “Jokowi” Widodo has said that the fuel subsidy is important to maintain purchasing power and to suppress inflation. The policy on maintaining subsidized fuel oil is considered appropriate as a short-term solution.
Moreover, President Jokowi said that the budget had recorded a surplus Rp 106 trillion as of mid-2022. Inflation has been kept in check at 4.9 percent, while the ASEAN rate averages 7 percent and in developed countries, 9 percent. The Jakarta Post
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Malaysia-Petition to U.S. CBP against Malaysian Palm Oil Lacks Transparency; Significant Errors Found
Over the past three years there have been two major petitions made to CBP on this issue. One came from the law firm Grant and Eisenhofer (G&E) against Felda Global Ventures (FGV), and the other was made by Liberty Shared (a U.S. NGO) against Sime Darby.
Under U.S. law it is possible for any person or group to launch a petition against any company for violations of Section 307 of the US Tariff Act.
The petitions made by both of these groups relied heavily upon NGO reports for their source material, particularly the G&E petition.
Notably, unlike Liberty Shared, which receives substantial funding from the U.S. government, G&E have never revealed their client.
The failure to disclose is significant. Were they funded by a competitor to palm oil, or a foreign government like Norway?
Much of the information throughout the report can be taken as a wholesale indictment of the Malaysian palm oil sector.
However, a very close examination of the sources indicates that much of the material is not even relevant to palm oil nor to Malaysia.
Take the first example, which is a report written by Amnesty International. It is probably the highest profile report cited in the petitions, given that Amnesty is an internationally-recognised human rights NGO.
The report, ‘Trapped: The Exploitation of Migrant Workers in Malaysia,’ is an extensive report on labour exploitation in Malaysia, focusing on indentured labour and unethical recruitment.
But it should be noted that palm oil is not mentioned at all throughout the report. There is a specific focus on manufacturing, which takes up around three-quarters of the report. No palm oil incidents are listed, nor are any palm oil companies.
Similarly, another report cited, put together by environmental group Rainforest Action Network, is entirely concerned with the Indonesian palm oil sector. Malaysian practices are not a subject of the report.
Another report cited, by human rights group Suhakam which is a highly respected NGO in Malaysia, concerns the discovery of mass graves of refugees that were discovered near the Thailand-Malaysia border. The report focuses entirely on recruitment processes – but palm oil is not mentioned once.
There is only one conclusion that can be drawn from a report that should be focused entirely on palm oil – but which instead is full of sources like this that don’t apply to palm oil. It all leads to a suggestion that the authors were attempting to discredit palm oil in any way possible rather than solve labour problems.
These two petitions are found to have significant errors. There should never be a scenario where the U.S. government should take them seriously, especially considering U.S. taxpayers paid for one of the reports. My Palm Labor Facts
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Papua New Guinea brings in minister for coffee
The Papua New Guinean prime minister has announced his cabinet, which contains not only some new faces, but some new positions as well, including a minister for coffee.
The post – believed to be a world first – shows the government’s commitment to expanding key agriculture industries, said the prime minister James Marape, who won re-election earlier this month after an election plagued by violence and allegations of voter fraud. For the first time Marape also named a minister for palm oil.
“The appointments specifically spotlight agriculture in a very significant way, to see agriculture growth in the country,” he said on Tuesday when announcing the new 33-member cabinet.
“Agriculture is where the government can have the greatest impact in terms of the population of this country, because the bulk of our people are subsistence farmers. We have land and we must encourage our people to go into agriculture production.”
The coffee and palm oil ministries sit alongside the main agriculture ministry, run by Goroka MP Aiye Tambua. The Guardian
Indonesia-Soaring Fuel Prices Explain Indonesia's Push for Biofuels
The geopolitical crisis resulting from the protracted Russia-Ukraine war has triggered a steep rise in global energy prices, including the price of crude oil. Indonesia, an oil net importer, has felt the pinch of soaring crude oil prices. Its fuel subsidy, budgeted at Rp 207 trillion (US$14 billion) for this year, is projected to swell to Rp 502 trillion.
President Joko “Jokowi” Widodo has said that the fuel subsidy is important to maintain purchasing power and to suppress inflation. The policy on maintaining subsidized fuel oil is considered appropriate as a short-term solution.
Moreover, President Jokowi said that the budget had recorded a surplus Rp 106 trillion as of mid-2022. Inflation has been kept in check at 4.9 percent, while the ASEAN rate averages 7 percent and in developed countries, 9 percent. The Jakarta Post
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Malaysia-Petition to U.S. CBP against Malaysian Palm Oil Lacks Transparency; Significant Errors Found
Over the past three years there have been two major petitions made to CBP on this issue. One came from the law firm Grant and Eisenhofer (G&E) against Felda Global Ventures (FGV), and the other was made by Liberty Shared (a U.S. NGO) against Sime Darby.
Under U.S. law it is possible for any person or group to launch a petition against any company for violations of Section 307 of the US Tariff Act.
The petitions made by both of these groups relied heavily upon NGO reports for their source material, particularly the G&E petition.
Notably, unlike Liberty Shared, which receives substantial funding from the U.S. government, G&E have never revealed their client.
The failure to disclose is significant. Were they funded by a competitor to palm oil, or a foreign government like Norway?
Much of the information throughout the report can be taken as a wholesale indictment of the Malaysian palm oil sector.
However, a very close examination of the sources indicates that much of the material is not even relevant to palm oil nor to Malaysia.
Take the first example, which is a report written by Amnesty International. It is probably the highest profile report cited in the petitions, given that Amnesty is an internationally-recognised human rights NGO.
The report, ‘Trapped: The Exploitation of Migrant Workers in Malaysia,’ is an extensive report on labour exploitation in Malaysia, focusing on indentured labour and unethical recruitment.
But it should be noted that palm oil is not mentioned at all throughout the report. There is a specific focus on manufacturing, which takes up around three-quarters of the report. No palm oil incidents are listed, nor are any palm oil companies.
Similarly, another report cited, put together by environmental group Rainforest Action Network, is entirely concerned with the Indonesian palm oil sector. Malaysian practices are not a subject of the report.
Another report cited, by human rights group Suhakam which is a highly respected NGO in Malaysia, concerns the discovery of mass graves of refugees that were discovered near the Thailand-Malaysia border. The report focuses entirely on recruitment processes – but palm oil is not mentioned once.
There is only one conclusion that can be drawn from a report that should be focused entirely on palm oil – but which instead is full of sources like this that don’t apply to palm oil. It all leads to a suggestion that the authors were attempting to discredit palm oil in any way possible rather than solve labour problems.
These two petitions are found to have significant errors. There should never be a scenario where the U.S. government should take them seriously, especially considering U.S. taxpayers paid for one of the reports. My Palm Labor Facts
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Papua New Guinea brings in minister for coffee
The Papua New Guinean prime minister has announced his cabinet, which contains not only some new faces, but some new positions as well, including a minister for coffee.
The post – believed to be a world first – shows the government’s commitment to expanding key agriculture industries, said the prime minister James Marape, who won re-election earlier this month after an election plagued by violence and allegations of voter fraud. For the first time Marape also named a minister for palm oil.
“The appointments specifically spotlight agriculture in a very significant way, to see agriculture growth in the country,” he said on Tuesday when announcing the new 33-member cabinet.
“Agriculture is where the government can have the greatest impact in terms of the population of this country, because the bulk of our people are subsistence farmers. We have land and we must encourage our people to go into agriculture production.”
The coffee and palm oil ministries sit alongside the main agriculture ministry, run by Goroka MP Aiye Tambua. The Guardian
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August 23, 2022
Indonesia says India committed to importing 2.6 mln tonnes of palm oil products
JAKARTA, Aug 23 (Reuters) - India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, Indonesia's trade minister said in a statement on Tuesday.
The commitment was part of dozens of deals Indonesia's trade minister signed during a recent visit to India, the statement said, without providing details about the period for the palm oil exports. Reuters
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India-Godrej Agrovet Gains The Most in 15 Weeks On Palm Oil Cultivation Deal with Assam, Manipur and Tripura states
Shares of Godrej Agrovet Ltd. gained the most in 15 weeks on signing a deal with three states to develop palm oil plantations. The deal signed with the governments of Assam, Manipur and Tripura would allocate land in these states to the agribusiness company to develop and promote oil palm cultivation under National Mission on Edible Oils-Oil Palm scheme, the company said in its exchange filing. BQ Prime
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Nigeria-Farmers groan as palm oil imports gulp N60b
Farmers have cried out over the N60 billion spent on palm oil import and urged the government to use the industry to create employment and alleviate the high level of poverty in the country.
For instance, figures from the Nigeria Nigerian Ports Authority (NPA) and National Bureau of Statistics (NBS) have shown that the inflows of palm oil imports through the seaports stand at N61.9billion.
Shipping data from the NPA also show that the country took delivery of 19, 200 tonnes of the produce from Rayyan I laden with 10,200 tonnes; Chem Lyra, 5,000 tonnes and Easterly AS Oliva, 4,000 tonnes.
Speaking at a forum organised by Malaysia External Trade Development Corporation (MATRADE) in Lagos, the Managing Director, Foremost Development Services Limited and Advisor to Plantation Owners Forum of Nigeria (POFON), Mr Fatai Afolabi, urged the government to use the palm oil industry to create employment and reduce poverty.
He said 40 per cent of palm oil plantations in Malaysia were owned or farmed by small-scale farmers, whereas, it was over 70 per cent small-scale owned in Nigeria. The Nation Online
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Malaysia-Palm oil companies look to durian as alternative crop
MORE oil palm plantation companies in Malaysia are diversifying into the king of fruits over its higher margins, using it as a means to reduce dependency on palm oil, said UOB Kay Hian analysts in a market report published on Tuesday (Aug 23).
However, due to a higher initial investment and a longer payback period in durian cultivation, it will likely remain a secondary source of income. Palm oil will still remain the primary crops for plantation companies, although more of them could be looking into alternative cash crops to mitigate the earnings volatility due to the volatile palm oil prices, wrote the analysts in the report.
Besides durian, the brokerage thinks pineapple plantations are also on the cards for these companies looking to diversify. Business TimesSG
Indonesia says India committed to importing 2.6 mln tonnes of palm oil products
JAKARTA, Aug 23 (Reuters) - India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, Indonesia's trade minister said in a statement on Tuesday.
The commitment was part of dozens of deals Indonesia's trade minister signed during a recent visit to India, the statement said, without providing details about the period for the palm oil exports. Reuters
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India-Godrej Agrovet Gains The Most in 15 Weeks On Palm Oil Cultivation Deal with Assam, Manipur and Tripura states
Shares of Godrej Agrovet Ltd. gained the most in 15 weeks on signing a deal with three states to develop palm oil plantations. The deal signed with the governments of Assam, Manipur and Tripura would allocate land in these states to the agribusiness company to develop and promote oil palm cultivation under National Mission on Edible Oils-Oil Palm scheme, the company said in its exchange filing. BQ Prime
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Nigeria-Farmers groan as palm oil imports gulp N60b
Farmers have cried out over the N60 billion spent on palm oil import and urged the government to use the industry to create employment and alleviate the high level of poverty in the country.
For instance, figures from the Nigeria Nigerian Ports Authority (NPA) and National Bureau of Statistics (NBS) have shown that the inflows of palm oil imports through the seaports stand at N61.9billion.
Shipping data from the NPA also show that the country took delivery of 19, 200 tonnes of the produce from Rayyan I laden with 10,200 tonnes; Chem Lyra, 5,000 tonnes and Easterly AS Oliva, 4,000 tonnes.
Speaking at a forum organised by Malaysia External Trade Development Corporation (MATRADE) in Lagos, the Managing Director, Foremost Development Services Limited and Advisor to Plantation Owners Forum of Nigeria (POFON), Mr Fatai Afolabi, urged the government to use the palm oil industry to create employment and reduce poverty.
He said 40 per cent of palm oil plantations in Malaysia were owned or farmed by small-scale farmers, whereas, it was over 70 per cent small-scale owned in Nigeria. The Nation Online
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Malaysia-Palm oil companies look to durian as alternative crop
MORE oil palm plantation companies in Malaysia are diversifying into the king of fruits over its higher margins, using it as a means to reduce dependency on palm oil, said UOB Kay Hian analysts in a market report published on Tuesday (Aug 23).
However, due to a higher initial investment and a longer payback period in durian cultivation, it will likely remain a secondary source of income. Palm oil will still remain the primary crops for plantation companies, although more of them could be looking into alternative cash crops to mitigate the earnings volatility due to the volatile palm oil prices, wrote the analysts in the report.
Besides durian, the brokerage thinks pineapple plantations are also on the cards for these companies looking to diversify. Business TimesSG
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India-Godrej Agrovet signs MoUs with NE states for oil palm cultivation
Godrej Agrovet is the largest oil palm processor in India and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with Godrej Agrovet’s long-term strategy to be the catalyst in India’s oil mission through sustainable growth of oil palm production and double farmer’s income.
Diversified agri business company Godrej Agrovet
Godrej Agrovet
513.751.85 (0.36%)
TOP INSIGHT
Beating 3 Yr Revenue CAGR
Company's annual revenue growth of 32.97% outperformed its 3 year CAGR of 11.86%. (Source: Consolida...
See More
close NSE 0.36 % on Monday announced that it has signed three MoUs (Memorandum of Understand) with Assam Manipur and Tripura state governments for development and promotion of oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.
Godrej Agrovet is the largest oil palm processor in India and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with Godrej Agrovet’s long-term strategy to be the catalyst in India’s oil mission through sustainable growth of oil palm production and double farmer’s income. Economic Times
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Malaysia-Global recovery to continue driving Malaysia's trade: MIDF Research
KUALA LUMPUR: Sustained recovery in the global economy will continue to drive external demand for Malaysia's manufactured goods and primary commodities, MIDF Research said.
The firm said the outlook might be adversely impacted by weaker global growth in view of downside risks from higher global inflation, possible recession in the United States, sluggish recovery and strict zero-Covid policy in China, ongoing war in Ukraine, and recent escalation of geo-political tension between China and Taiwan.
"Nevertheless, we foresee sustained recovery in the global economy, as countries reopen their economies and ease Covid-19 restrictions, will continue to drive external demand for manufactured goods (i.e. E&E and refined petroleum) and primary commodities.
"We also expect imports to expand further in the coming months as growth momentum in the domestic economy is expected to continue in the latter part of the year," it added. New Straits Times
Godrej Agrovet is the largest oil palm processor in India and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with Godrej Agrovet’s long-term strategy to be the catalyst in India’s oil mission through sustainable growth of oil palm production and double farmer’s income.
Diversified agri business company Godrej Agrovet
Godrej Agrovet
513.751.85 (0.36%)
TOP INSIGHT
Beating 3 Yr Revenue CAGR
Company's annual revenue growth of 32.97% outperformed its 3 year CAGR of 11.86%. (Source: Consolida...
See More
close NSE 0.36 % on Monday announced that it has signed three MoUs (Memorandum of Understand) with Assam Manipur and Tripura state governments for development and promotion of oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.
Godrej Agrovet is the largest oil palm processor in India and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with Godrej Agrovet’s long-term strategy to be the catalyst in India’s oil mission through sustainable growth of oil palm production and double farmer’s income. Economic Times
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Malaysia-Global recovery to continue driving Malaysia's trade: MIDF Research
KUALA LUMPUR: Sustained recovery in the global economy will continue to drive external demand for Malaysia's manufactured goods and primary commodities, MIDF Research said.
The firm said the outlook might be adversely impacted by weaker global growth in view of downside risks from higher global inflation, possible recession in the United States, sluggish recovery and strict zero-Covid policy in China, ongoing war in Ukraine, and recent escalation of geo-political tension between China and Taiwan.
"Nevertheless, we foresee sustained recovery in the global economy, as countries reopen their economies and ease Covid-19 restrictions, will continue to drive external demand for manufactured goods (i.e. E&E and refined petroleum) and primary commodities.
"We also expect imports to expand further in the coming months as growth momentum in the domestic economy is expected to continue in the latter part of the year," it added. New Straits Times
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August 20, 2022
Ghana-Minister of Food and Agriculture inaugurates Twifo Oil Palm Plantation Board
The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, has inaugurated an 11-member Board of the of the Twifo Oil Palm Plantation (TOPP) in the central region with a pledge to commit more investment to ensure a sustainable oil palm plantation.
Speaking at the inauguration, Dr Akoto said the Tree Crop Development Authority (TCDA) set up by government, is working to position the country to earn $16 billion annually from six selected tree crops in the next eight to 10 years.
The crops, cashew, oil palm, shea, coconut, mango, and rubber, are being promoted under the Planting for Export and Rural Development (PERD) programme with the aim to end the overreliance on cocca as a major export commodity.
"Already the TCDA is making a huge impact on farmers in determining a minimum price for cashew in the Bono, Ahafo and Bono East regions although in its infancy. Last time I checked it was GH¢9 per kilogramme.
"It has an ambitious target of lifting the $2 billion from cocoa to $16 billion with the six crops in the next eight to 10 years. By the end of 2020, a total of 22 million seedlings of the six selected crops had been distributed. Ghanaian farmers have demonstrated their commitment to come along in this new development," he said.
Dr Akoto said the government and Unilever had entered a partnership to transform TOPP into a world-class and sustainable oil palm plantation.
Under the partnership, TOPP and the government will work together by committing more investments into the development and expansion of the plantation, support smallholder farmers and adopt strategies to ensure the plantation improves its impact on the economy. Business Ghana
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Ghana-Minister of Food and Agriculture inaugurates Twifo Oil Palm Plantation Board
The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, has inaugurated an 11-member Board of the of the Twifo Oil Palm Plantation (TOPP) in the central region with a pledge to commit more investment to ensure a sustainable oil palm plantation.
Speaking at the inauguration, Dr Akoto said the Tree Crop Development Authority (TCDA) set up by government, is working to position the country to earn $16 billion annually from six selected tree crops in the next eight to 10 years.
The crops, cashew, oil palm, shea, coconut, mango, and rubber, are being promoted under the Planting for Export and Rural Development (PERD) programme with the aim to end the overreliance on cocca as a major export commodity.
"Already the TCDA is making a huge impact on farmers in determining a minimum price for cashew in the Bono, Ahafo and Bono East regions although in its infancy. Last time I checked it was GH¢9 per kilogramme.
"It has an ambitious target of lifting the $2 billion from cocoa to $16 billion with the six crops in the next eight to 10 years. By the end of 2020, a total of 22 million seedlings of the six selected crops had been distributed. Ghanaian farmers have demonstrated their commitment to come along in this new development," he said.
Dr Akoto said the government and Unilever had entered a partnership to transform TOPP into a world-class and sustainable oil palm plantation.
Under the partnership, TOPP and the government will work together by committing more investments into the development and expansion of the plantation, support smallholder farmers and adopt strategies to ensure the plantation improves its impact on the economy. Business Ghana
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August 18, 2022
Nigeria’s Edo state goes back to the future with palm oil production
Once a major palm oil producer, Nigeria has in recent decades been eclipsed by Indonesia and Malaysia. But a sustainable project in Edo state is helping to get the industry back on its feet.
Nigeria in the 1960s used to be the world’s top producer of palm oil. Today, palm oil has become one of the most versatile oils and can be found in nearly everything.
The World Wildlife Fund estimates that it is in up to 50% of the packaged products we find in supermarkets around the world, from pizza, doughnuts and chocolate, to deodorant, shampoo, toothpaste and lipstick. It’s also used in animal feed and as a biofuel in many parts of the world.
But as Nigeria focused, post-independence, on crude oil and agriculture faltered, palm oil production declined. Today the country imports most of its palm oil from Indonesia and Malaysia, the world’s largest producers.
Palm oil plantations are best suited to grow at around five degrees either side of the equator. As such many African countries have a competitive advantage, even though Malaysia and Indonesia currently account for 85% of global production. African Business
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Liberia-GVL gets recognition from Civil Society Group
IPNEWS: Golden Veroleum (Liberia) Inc. (GVL) has being recognized as “Liberia’s Most O Association of Liberian Journalists In Peace Building Honors GVL outstanding Corporate Year 2021/2022” by the Association of Liberian Journalist in Peace Building, Liberia.
Presenting the Certificates of Recognition at the honoring ceremony held at Cape Hotel in Monrovia, the Group’s National Coordinator Alex V. William and Secretary General Cyrus Jackson Doe said their decision is based on the Company’s immense contributions towards the growth and development of the Liberian economy, through the provision of jobs for over 3,000 Liberians and other social corporate initiatives in host communities, which have helped in reducing poverty within the Southeastern belt of Liberia.
The provision of sustainable income and benefits for workers, housing facilities with continuous electricity and water; free health care delivery for employees and their dependents, as well as community dwellers and the construction and rehabilitation of schools are deemed worthy of recognition.
It also mentioned that GVL’s annual contributions to Community Development Funds for projects such as road rehabilitation, scholarships and efforts to build the capacity of youths and other infrastructural improvements that benefit the communities are commendable.
The Group also lauded the managerial skills of the management team led by the CEO in recognizing the rights of communities and always constructively engaging and discussing with them in accordance with the principles of Free, Prior and Informed Consent (FPIC). Independent Probe
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Malaysia-Top Malaysian sectors affected by China’s economic slowdown
China, the world’s biggest economy, grew by just 0.4% in the second quarter of 2022, its weakest growth since the pandemic in 2020. This is largely owing to the Chinese government’s zero-Covid policy, which has led to lockdowns in several large cities including Shenzhen, Shanghai, and Beijing.
As Malaysia’s biggest trading partner, a slowdown in China has repercussions for certain local sectors and companies. Here is a rundown using data from 2020 obtained from the Observatory of Economic Complexity, which tracks and publishes export and import data from countries all over the world. Free Malaysia Today
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Woolworths Group Sustainable Sourcing Report on Palm oil, Soy, tea, coffee and more
Aligned with our goal to positively impact our planet and leverage our partnerships for change, we’re working to make it easier for customers to make sustainable choices – by ensuring high‑impact commodities are sourced sustainably through suppliers that have low risk of negative social and environmental impacts, such as deforestation, climate change and exploitative working conditions.
100 percent of palm (kernel) oil used in Woolworths’ Own Brand food products supports the production of Roundtable on Sustainable Palm Oil (RSPO) certified sustainable palm (kernel) oil.
In F21, 98.56 percent of the volume of palm (kernel) oil in Own Brand food products was independently certified, and the remaining 1.44 percent supported the production of Certified Sustainable Palm Oil (CSPO) through the use of RSPO credits. In F21, our Palm Oil Policy was updated to further reduce the risk of deforestation in palm oil supply chains by:
Nigeria’s Edo state goes back to the future with palm oil production
Once a major palm oil producer, Nigeria has in recent decades been eclipsed by Indonesia and Malaysia. But a sustainable project in Edo state is helping to get the industry back on its feet.
Nigeria in the 1960s used to be the world’s top producer of palm oil. Today, palm oil has become one of the most versatile oils and can be found in nearly everything.
The World Wildlife Fund estimates that it is in up to 50% of the packaged products we find in supermarkets around the world, from pizza, doughnuts and chocolate, to deodorant, shampoo, toothpaste and lipstick. It’s also used in animal feed and as a biofuel in many parts of the world.
But as Nigeria focused, post-independence, on crude oil and agriculture faltered, palm oil production declined. Today the country imports most of its palm oil from Indonesia and Malaysia, the world’s largest producers.
Palm oil plantations are best suited to grow at around five degrees either side of the equator. As such many African countries have a competitive advantage, even though Malaysia and Indonesia currently account for 85% of global production. African Business
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Liberia-GVL gets recognition from Civil Society Group
IPNEWS: Golden Veroleum (Liberia) Inc. (GVL) has being recognized as “Liberia’s Most O Association of Liberian Journalists In Peace Building Honors GVL outstanding Corporate Year 2021/2022” by the Association of Liberian Journalist in Peace Building, Liberia.
Presenting the Certificates of Recognition at the honoring ceremony held at Cape Hotel in Monrovia, the Group’s National Coordinator Alex V. William and Secretary General Cyrus Jackson Doe said their decision is based on the Company’s immense contributions towards the growth and development of the Liberian economy, through the provision of jobs for over 3,000 Liberians and other social corporate initiatives in host communities, which have helped in reducing poverty within the Southeastern belt of Liberia.
The provision of sustainable income and benefits for workers, housing facilities with continuous electricity and water; free health care delivery for employees and their dependents, as well as community dwellers and the construction and rehabilitation of schools are deemed worthy of recognition.
It also mentioned that GVL’s annual contributions to Community Development Funds for projects such as road rehabilitation, scholarships and efforts to build the capacity of youths and other infrastructural improvements that benefit the communities are commendable.
The Group also lauded the managerial skills of the management team led by the CEO in recognizing the rights of communities and always constructively engaging and discussing with them in accordance with the principles of Free, Prior and Informed Consent (FPIC). Independent Probe
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Malaysia-Top Malaysian sectors affected by China’s economic slowdown
China, the world’s biggest economy, grew by just 0.4% in the second quarter of 2022, its weakest growth since the pandemic in 2020. This is largely owing to the Chinese government’s zero-Covid policy, which has led to lockdowns in several large cities including Shenzhen, Shanghai, and Beijing.
As Malaysia’s biggest trading partner, a slowdown in China has repercussions for certain local sectors and companies. Here is a rundown using data from 2020 obtained from the Observatory of Economic Complexity, which tracks and publishes export and import data from countries all over the world. Free Malaysia Today
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Woolworths Group Sustainable Sourcing Report on Palm oil, Soy, tea, coffee and more
Aligned with our goal to positively impact our planet and leverage our partnerships for change, we’re working to make it easier for customers to make sustainable choices – by ensuring high‑impact commodities are sourced sustainably through suppliers that have low risk of negative social and environmental impacts, such as deforestation, climate change and exploitative working conditions.
100 percent of palm (kernel) oil used in Woolworths’ Own Brand food products supports the production of Roundtable on Sustainable Palm Oil (RSPO) certified sustainable palm (kernel) oil.
In F21, 98.56 percent of the volume of palm (kernel) oil in Own Brand food products was independently certified, and the remaining 1.44 percent supported the production of Certified Sustainable Palm Oil (CSPO) through the use of RSPO credits. In F21, our Palm Oil Policy was updated to further reduce the risk of deforestation in palm oil supply chains by:
- Transitioning to CSPO in all own brand non‑food products, such as cleaners and personal care products
- Transitioning to segregated palm oil in Macro‑branded food products to further reduce the risk of deforestation stemming from palm oil production
- Introducing on‑pack labeling of sustainably‑sourced palm oil on high‑volume products
August 17, 2022
Ghana’s palm oil sector to receive continuous support from Swiss Government
Madam Anne Schick, the Acting Head of Cooperation, Embassy of Switzerland in Ghana, says the Swiss Government will continue to support the palm oil sector under the Ghana Private Sector Competitiveness Programme Phase II.
She said through the already co-funded Sustainable West Africa Palm Oil Programme (SWAPP II), significant progress had been made in the development of a sustainable and competitive oil palm sector in Ghana.
Madam Schick made this known on the sidelines of the close-out event of the programme implemented by Solidaridad West Africa in Accra.
The four-year programme, implemented between 2018 and 2022, sought to transform the West African palm oil sector into an inclusive and sustainable sector through micro, small and medium enterprises that provide large-scale yield intensification and farm rehabilitation services to oil palm farmers and efficient processing of fresh fruits bunches in Ghana, Cote d’Ivoire, Liberia, and Sierra Leone. News Ghana
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CDP finds that only 22% of companies sourcing or producing palm oil in Indonesia have implemented public and comprehensive no deforestation policies.
The latest findings from CDP, the non-profit that runs the world’s environmental disclosure system, highlight the rate of action from companies to decouple palm oil sourcing or production in Indonesia with deforestation must accelerate.
‘Measuring progress towards a sustainable palm oil supply chain’ highlights that forests provide key services that are essential for livelihoods and ecosystems; around 500 million people depend on them directly. Positively, over the past five years, primary rainforest loss has fallen, but this report warns that companies must increase corporate ambition to ensure this trend continues. WebWire
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India-Palm Oil: Domestic palm cultivation will reduce import dependence, expected to produce 28 lakh tonnes of additional palm oil
Incentives to domestic palm cultivation can cut palm oil imports by up to 30 percent. In fact, the government has started the National Oil Mission to increase palm cultivation, for which a budgetary provision of Rs 11 thousand crore has been made. The Centre's share in this will be Rs 8844 crore. With the success of the mission, there will be an annual domestic production of 2.8 million tonnes of additional palm oil by 2030. According to the statistics of the Ministry of Agriculture, at present there are palm plantations in 3.5 lakh ton hectare area. Whereas under the National Oil Mission, the area under palm cultivation is to be increased in an additional 6.5 lakh hectares by the year 2025-26. The mission started last year.
India imports more than 56 percent of food grains
India imports more than 56 per cent of its total consumption of edible oils annually. Palm oil alone accounts for 8 million tonnes of the total edible oils imported. Whereas domestic production of palm oil is only five lakh tonnes. A senior official associated with the National Oil Mission said that by the year 2030, our domestic production will increase, which will reduce the import of palm oil by 25 to 30 percent. The Weekly Mail
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Brasil-Surrounded by palm oil, traditional peoples experience terror in land dispute with biodiesel producer
Brasil BioFuels’ plantations in northeast Pará overlap with areas claimed by indigenous and quilombola communities; the company has signed a billion-dollar deal with the largest distributor of aviation fuel in the country
No one walks alone anymore, drives on the roads at night or paints themselves with genipap to go to the cities. In the municipalities of Acará and Tomé Açu, in northeast Pará, indigenous and quilombola communities take turns keeping vigil at the entrance to their territories.
Surrounded by palm oil plantations, residents of the quilombos Nova Betel, Alto Acará Amarqualta and the indigenous land Turé Mariquita live a scenario of terror since the palm oil producer Brasil BioFuels (BBF), which claims to be the largest in Latin America, settled in the region, 200 km from Belém. Brasil Reporter
Ghana’s palm oil sector to receive continuous support from Swiss Government
Madam Anne Schick, the Acting Head of Cooperation, Embassy of Switzerland in Ghana, says the Swiss Government will continue to support the palm oil sector under the Ghana Private Sector Competitiveness Programme Phase II.
She said through the already co-funded Sustainable West Africa Palm Oil Programme (SWAPP II), significant progress had been made in the development of a sustainable and competitive oil palm sector in Ghana.
Madam Schick made this known on the sidelines of the close-out event of the programme implemented by Solidaridad West Africa in Accra.
The four-year programme, implemented between 2018 and 2022, sought to transform the West African palm oil sector into an inclusive and sustainable sector through micro, small and medium enterprises that provide large-scale yield intensification and farm rehabilitation services to oil palm farmers and efficient processing of fresh fruits bunches in Ghana, Cote d’Ivoire, Liberia, and Sierra Leone. News Ghana
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CDP finds that only 22% of companies sourcing or producing palm oil in Indonesia have implemented public and comprehensive no deforestation policies.
- Only 2% of companies that source or produce palm oil are using deforestation-free compliant third-party verified schemes that cover over 90% of their production of palm oil.
- Whilst 87% of companies have implemented traceability systems, only 25% of companies have the capacity to scale these to over 90% of their production/consumption back to at least the municipality level.
- Companies must increase engagement with their supply chains. Currently, only 35% of companies are providing financial and technical assistance to direct suppliers and only 53% of companies are engaging with suppliers beyond their first tier.
- Collective action across stakeholders is increasing but still lacking with only 14% of companies involved in jurisdictional approaches to remove deforestation from their operations.
The latest findings from CDP, the non-profit that runs the world’s environmental disclosure system, highlight the rate of action from companies to decouple palm oil sourcing or production in Indonesia with deforestation must accelerate.
‘Measuring progress towards a sustainable palm oil supply chain’ highlights that forests provide key services that are essential for livelihoods and ecosystems; around 500 million people depend on them directly. Positively, over the past five years, primary rainforest loss has fallen, but this report warns that companies must increase corporate ambition to ensure this trend continues. WebWire
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India-Palm Oil: Domestic palm cultivation will reduce import dependence, expected to produce 28 lakh tonnes of additional palm oil
Incentives to domestic palm cultivation can cut palm oil imports by up to 30 percent. In fact, the government has started the National Oil Mission to increase palm cultivation, for which a budgetary provision of Rs 11 thousand crore has been made. The Centre's share in this will be Rs 8844 crore. With the success of the mission, there will be an annual domestic production of 2.8 million tonnes of additional palm oil by 2030. According to the statistics of the Ministry of Agriculture, at present there are palm plantations in 3.5 lakh ton hectare area. Whereas under the National Oil Mission, the area under palm cultivation is to be increased in an additional 6.5 lakh hectares by the year 2025-26. The mission started last year.
India imports more than 56 percent of food grains
India imports more than 56 per cent of its total consumption of edible oils annually. Palm oil alone accounts for 8 million tonnes of the total edible oils imported. Whereas domestic production of palm oil is only five lakh tonnes. A senior official associated with the National Oil Mission said that by the year 2030, our domestic production will increase, which will reduce the import of palm oil by 25 to 30 percent. The Weekly Mail
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Brasil-Surrounded by palm oil, traditional peoples experience terror in land dispute with biodiesel producer
Brasil BioFuels’ plantations in northeast Pará overlap with areas claimed by indigenous and quilombola communities; the company has signed a billion-dollar deal with the largest distributor of aviation fuel in the country
No one walks alone anymore, drives on the roads at night or paints themselves with genipap to go to the cities. In the municipalities of Acará and Tomé Açu, in northeast Pará, indigenous and quilombola communities take turns keeping vigil at the entrance to their territories.
Surrounded by palm oil plantations, residents of the quilombos Nova Betel, Alto Acará Amarqualta and the indigenous land Turé Mariquita live a scenario of terror since the palm oil producer Brasil BioFuels (BBF), which claims to be the largest in Latin America, settled in the region, 200 km from Belém. Brasil Reporter
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August 15, 2022
Indonesian Farmers pleased with added product value in Red Palm Oil market
Jakarta (ANTARA) - Palm farmers are pleased that their product’s value is increasing as they can now produce red palm cooking oil, according to Minister of Co-operatives and Small and Medium Enterprises Teten Masduki.
"They (palm farmers) can now sell more than the (palm) fresh fruit bunches. If (they produce) 10 tons (of red cooking oil) daily, we calculate the product can be distributed to two sub-districts outside the palm plantation, and this will enhance the distribution of red cooking oil (as an alternative to) cooking oil to residents," he said at the 2022 Indonesian Retail Summit on Monday.
The summit was organized by the Indonesia Retail and Tenant Association (Hippindo) at Sarinah Building here. Antara News
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Nigeria-Nigeria Imports N61.9bn Palm Oil Amid High Price
Statistics by the Nigerian Ports Authority (NPA) and National Bureau of Statistics (NBS) have revealed that the inflows of palm oil imports through the seaports have reached N61.9 billion ($95.2 million).
The imports declined 49.1 per cent from $186.7 million in 2021 in the same period due to forex restriction by the Central Bank of Nigeria (CBN), high price of the commodity, which has reached $1,121.33 per tonne in the global market and the Ukraine-Russia war.
Findings by New Telegraph revealed that Lagos Port Complex took delivery of 66,400 tonnes from eight vessels between April and August 2022. Also, in the first quarter of 2022, NBS explained that palm oil from Malaysia into the country was valued at ₦13.5 billion, leading to 72.1 per cent rise in less than four months. New TelegraphNG
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Ghana-Four million euros mobilised for SWAPPII participating SMEs
Solidaridad West Africa as part of the second phase of the Sustainable West Africa Oil Palm Programme (SWAPP II) has mobilised a total of 4 million euros from financial institutions for participating small and medium enterprises.
An amount of 1.9 million euros was also mobilised by Village Savings and Loans Associations, established under the programme.
Mr Isaac Gyamfi, the Regional Director for Solidaridad West Africa, speaking at the close-out event of the programme, said, “It is worth noting that with the support, collaboration and additional financing from the German government, oil palm is now one of the few agricultural Technical and Vocational Education and Training that has a nationally accredited in the competency-based training curriculum with accredited schools.”
The four-year programme, implemented between 2018 and 2022, sought to transform the West African palm oil sector into an inclusive and sustainable sector through micro, small and medium enterprises that provide large-scale yield intensification and farm rehabilitation services to oil palm farmers and efficient processing of fresh fruits bunches in Ghana, Cote d’Ivoire, Liberia, and Sierra Leone. Business Ghana
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Nigeria-Red palm oil lowers cholesterol, slows heart diseases: Prof. Raphael Nyarkotey Obu
When it comes to cooking oils, Palm oil appears to be controversial. Additionally, Palm oil should not be confused with palm kernel oil.
Though both have their root from the same plant, palm kernel oil is extracted from the seed of the fruit. It provides different health benefits. Palm oil has a variety of medicinal uses in Africa as well.
It was used as an antidote for poison, a cure for gonorrhea, a natural laxative, a diuretic, and a treatment for headaches and skin infections. This article brings an objective analysis of Palm oil to settle the long-standing controversy. My Joy Online
Indonesian Farmers pleased with added product value in Red Palm Oil market
Jakarta (ANTARA) - Palm farmers are pleased that their product’s value is increasing as they can now produce red palm cooking oil, according to Minister of Co-operatives and Small and Medium Enterprises Teten Masduki.
"They (palm farmers) can now sell more than the (palm) fresh fruit bunches. If (they produce) 10 tons (of red cooking oil) daily, we calculate the product can be distributed to two sub-districts outside the palm plantation, and this will enhance the distribution of red cooking oil (as an alternative to) cooking oil to residents," he said at the 2022 Indonesian Retail Summit on Monday.
The summit was organized by the Indonesia Retail and Tenant Association (Hippindo) at Sarinah Building here. Antara News
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Nigeria-Nigeria Imports N61.9bn Palm Oil Amid High Price
Statistics by the Nigerian Ports Authority (NPA) and National Bureau of Statistics (NBS) have revealed that the inflows of palm oil imports through the seaports have reached N61.9 billion ($95.2 million).
The imports declined 49.1 per cent from $186.7 million in 2021 in the same period due to forex restriction by the Central Bank of Nigeria (CBN), high price of the commodity, which has reached $1,121.33 per tonne in the global market and the Ukraine-Russia war.
Findings by New Telegraph revealed that Lagos Port Complex took delivery of 66,400 tonnes from eight vessels between April and August 2022. Also, in the first quarter of 2022, NBS explained that palm oil from Malaysia into the country was valued at ₦13.5 billion, leading to 72.1 per cent rise in less than four months. New TelegraphNG
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Ghana-Four million euros mobilised for SWAPPII participating SMEs
Solidaridad West Africa as part of the second phase of the Sustainable West Africa Oil Palm Programme (SWAPP II) has mobilised a total of 4 million euros from financial institutions for participating small and medium enterprises.
An amount of 1.9 million euros was also mobilised by Village Savings and Loans Associations, established under the programme.
Mr Isaac Gyamfi, the Regional Director for Solidaridad West Africa, speaking at the close-out event of the programme, said, “It is worth noting that with the support, collaboration and additional financing from the German government, oil palm is now one of the few agricultural Technical and Vocational Education and Training that has a nationally accredited in the competency-based training curriculum with accredited schools.”
The four-year programme, implemented between 2018 and 2022, sought to transform the West African palm oil sector into an inclusive and sustainable sector through micro, small and medium enterprises that provide large-scale yield intensification and farm rehabilitation services to oil palm farmers and efficient processing of fresh fruits bunches in Ghana, Cote d’Ivoire, Liberia, and Sierra Leone. Business Ghana
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Nigeria-Red palm oil lowers cholesterol, slows heart diseases: Prof. Raphael Nyarkotey Obu
When it comes to cooking oils, Palm oil appears to be controversial. Additionally, Palm oil should not be confused with palm kernel oil.
Though both have their root from the same plant, palm kernel oil is extracted from the seed of the fruit. It provides different health benefits. Palm oil has a variety of medicinal uses in Africa as well.
It was used as an antidote for poison, a cure for gonorrhea, a natural laxative, a diuretic, and a treatment for headaches and skin infections. This article brings an objective analysis of Palm oil to settle the long-standing controversy. My Joy Online
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August 12, 2022
Malaysian economy smashes forecasts, growing 8.9 percent in Q2
Southeast Asian country continues strong pandemic recovery after reopening its borders in April.
Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, boosted by an expansion in domestic demand and resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the rest of 2022.
Gross domestic product (GDP) in April-June surged 8.9 percent from a year earlier, the central bank said. This was faster than the 6.7 percent growth forecast in a Reuters poll and was up from the 5 percent annual rise in the previous quarter.
It was also quicker than any annual rate seen since the second quarter of 2021, when GDP was 16.1 percent higher than a low year-earlier base.
Seasonally adjusted GDP for April-June was up 3.5 percent on the previous three months, when quarterly growth was 3.8 percent.
Malaysia’s economy has been on a strong recovery path since the country reopened its borders in April. Al Jazeera
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Malaysia-Johor Corp picks banks for IPO of US$1b palm oil unit Kulim: sources
JOHOR Corp, a Malaysian state-owned investment firm, has picked banks for an initial public offering of its plantation unit, according to people with knowledge of the matter.
The investment arm of the Johor state government is working with advisers including RHB Bank, Affin Bank and AMMB on a domestic listing of Kulim Malaysia, the people said, asking not to be identified as the process is private.
CLSA and CIMB Group are also working on on the planned share sale of the unit, which could raise as much as RM1 billion (S$308 million), said the people. The operation could be valued at up to US$1 billion in the offering, which could take place in Kuala Lumpur as soon as next year, they said. Business Times
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Malaysia-Plantation Ministry focusing on expanding local downstream oleochemicals industry, says Zuraida
KUALA LUMPUR (Aug 11): The Ministry of Plantation Industries and Commodities is focusing its efforts on expanding the local downstream oleochemicals industry, especially on setting up oleochemicals factories to process crude palm oil (CPO) into non-food products like cosmetics and detergents.
Minister Datuk Zuraida Kamaruddin said palm oil is a very versatile commodity, as it could be processed into both food and non-food products.
“In planting oil palm trees, the target is zero waste,” she said during the Dewan Negara’s question-and-answer session on Thursday. The Edge Markets
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India-Govt plans to reduce import dependence on palm oil by 25-30%
India’s annual imports are around 13-14 MT. Around 8 MT of palm oil is imported from Indonesia and Malaysia, while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine and Russia.
The government is aiming at reducing import dependence on palm oil by 25 to 30% through the production of 2.8 million tonne (MT) of oil by 2030 under the National Edible Oil Mission.
Currently, around 0.35 million hectare (MH) is under palm plantation. Under the mission launched last year, an additional area of 0.65 MH will be brought into palm plantations by 2025-26.
India imports 56% of its edible oil requirement annually. The country imports around 8 MT of palm oil while the domestic production is around 0.5 MT.
“Through bringing in more area under palm plantation in the next three years, especially in Andhra Pradesh, Telangana, Assam, Tripura and Mizoram, we plan to reduce our palm oil import dependence by 2030,” an official who is involved in the national oil palm mission, told FE. Financial Express
Malaysian economy smashes forecasts, growing 8.9 percent in Q2
Southeast Asian country continues strong pandemic recovery after reopening its borders in April.
Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, boosted by an expansion in domestic demand and resilient exports, but a slowdown in global growth is expected to pose a risk to the outlook for the rest of 2022.
Gross domestic product (GDP) in April-June surged 8.9 percent from a year earlier, the central bank said. This was faster than the 6.7 percent growth forecast in a Reuters poll and was up from the 5 percent annual rise in the previous quarter.
It was also quicker than any annual rate seen since the second quarter of 2021, when GDP was 16.1 percent higher than a low year-earlier base.
Seasonally adjusted GDP for April-June was up 3.5 percent on the previous three months, when quarterly growth was 3.8 percent.
Malaysia’s economy has been on a strong recovery path since the country reopened its borders in April. Al Jazeera
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Malaysia-Johor Corp picks banks for IPO of US$1b palm oil unit Kulim: sources
JOHOR Corp, a Malaysian state-owned investment firm, has picked banks for an initial public offering of its plantation unit, according to people with knowledge of the matter.
The investment arm of the Johor state government is working with advisers including RHB Bank, Affin Bank and AMMB on a domestic listing of Kulim Malaysia, the people said, asking not to be identified as the process is private.
CLSA and CIMB Group are also working on on the planned share sale of the unit, which could raise as much as RM1 billion (S$308 million), said the people. The operation could be valued at up to US$1 billion in the offering, which could take place in Kuala Lumpur as soon as next year, they said. Business Times
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Malaysia-Plantation Ministry focusing on expanding local downstream oleochemicals industry, says Zuraida
KUALA LUMPUR (Aug 11): The Ministry of Plantation Industries and Commodities is focusing its efforts on expanding the local downstream oleochemicals industry, especially on setting up oleochemicals factories to process crude palm oil (CPO) into non-food products like cosmetics and detergents.
Minister Datuk Zuraida Kamaruddin said palm oil is a very versatile commodity, as it could be processed into both food and non-food products.
“In planting oil palm trees, the target is zero waste,” she said during the Dewan Negara’s question-and-answer session on Thursday. The Edge Markets
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India-Govt plans to reduce import dependence on palm oil by 25-30%
India’s annual imports are around 13-14 MT. Around 8 MT of palm oil is imported from Indonesia and Malaysia, while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine and Russia.
The government is aiming at reducing import dependence on palm oil by 25 to 30% through the production of 2.8 million tonne (MT) of oil by 2030 under the National Edible Oil Mission.
Currently, around 0.35 million hectare (MH) is under palm plantation. Under the mission launched last year, an additional area of 0.65 MH will be brought into palm plantations by 2025-26.
India imports 56% of its edible oil requirement annually. The country imports around 8 MT of palm oil while the domestic production is around 0.5 MT.
“Through bringing in more area under palm plantation in the next three years, especially in Andhra Pradesh, Telangana, Assam, Tripura and Mizoram, we plan to reduce our palm oil import dependence by 2030,” an official who is involved in the national oil palm mission, told FE. Financial Express
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August 11, 2022
Thailand joins RSPO, GIZ in making palm oil industry more sustainable
The Agriculture Ministry aims to allocate more land to palm plantations in Thailand to boost productivity and meet future demands.
Alongkorn Phonbutr, adviser to the agriculture minister, made this remark on Tuesday at the Second Business Forum organised by the Roundtable on Sustainable Palm Oil (RSPO) and the German Organisation for International Cooperation (GIZ).
“We are increasing the yield per rai by no less than 10 per cent and the extraction rate of 22-23 per cent to increase productivity to meet future demand," he said.
He added that the Agriculture Ministry, alongside RSPO, will work on raising the standard of sustainable palm-oil production in Thailand and in line with this, the Thailand Sustainable Palm Oil Alliance has been established. Standards on agricultural commodities related to oil palm will also be established by the National Bureau of Agricultural Commodity and Food Standards.
Nation Thailand
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India-Tripura inks pact with Patanjali for Palm Oil Cultivation
Agartala: In a bid to boost the economy of Tripura, the state government signed an MoU with Patanjali Foods Limited on Wednesday. A press statement from the Tripura government on Thursday informed that the government of Tripura and Patanjali Foods Ltd signs MoU for Oil Palm Plantations in the state under NMEO -OP (National Mission on Edible Oil - Oil Palm).
Earlier, in the recently held meeting of NITI Ayog, Chief Minister Dr. Manik Saha said that under the national mission of edible oil-Palm oil, the state has set a target to cultivate palm oil in a 530-hectare area during 2022-23. The Chief Minister also said that an MoU with the Government of India regarding viability gap payment for farmers has already been signed.Later in the press release, it was mentioned that Patanjali Foods Ltd has signed an MoU today with the Director of Horticulture and Soil Conservation, Govt of Tripura in respect of Oil Palm promotion in the State through different area expansion programs and setting up Oil Mill on Oil Palm. Patanjali Foods Ltd is allotted two Zones comprising districts like Khowai, West Tripura, Sepahijala, Gomati, and South districts of Tripura where there is wide scope for oil Palm Plantations in the state against an EOI released by the Department recently.
ETV Bharat
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Nigeria-PET Agro Farms targets N150m investment in oil, cashew processing
PET Agro Farms, a Nigerian-based foreign firm, says plans are on to invest about N150 million in Nigeria via production and processing of oil palm, cashew, and other agricultural production.
The agro-firm said the initiative had become imperative in order to target the foreign market and earn forex into the country during the ongoing forex crisis in the country. Ms Rehab Danladi, Director, Pet Agro Farm, yesterday told the News Agency of NIgeria (NAN) in an interview in Abuja that the farm was looking to start up with 40 plots in Kogi.
“We are already working closely with the Bank of Industry for the local market production while talks are already ongoing with the NEXIM Bank to finance export.
“There is a need for us to go to backward integration now, enough is enough for import, while we process , 80 per cent will be going into the export market, while 20 per cent will be for the local market,” she explained. The Nation OnlineNG
Thailand joins RSPO, GIZ in making palm oil industry more sustainable
The Agriculture Ministry aims to allocate more land to palm plantations in Thailand to boost productivity and meet future demands.
Alongkorn Phonbutr, adviser to the agriculture minister, made this remark on Tuesday at the Second Business Forum organised by the Roundtable on Sustainable Palm Oil (RSPO) and the German Organisation for International Cooperation (GIZ).
“We are increasing the yield per rai by no less than 10 per cent and the extraction rate of 22-23 per cent to increase productivity to meet future demand," he said.
He added that the Agriculture Ministry, alongside RSPO, will work on raising the standard of sustainable palm-oil production in Thailand and in line with this, the Thailand Sustainable Palm Oil Alliance has been established. Standards on agricultural commodities related to oil palm will also be established by the National Bureau of Agricultural Commodity and Food Standards.
Nation Thailand
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India-Tripura inks pact with Patanjali for Palm Oil Cultivation
Agartala: In a bid to boost the economy of Tripura, the state government signed an MoU with Patanjali Foods Limited on Wednesday. A press statement from the Tripura government on Thursday informed that the government of Tripura and Patanjali Foods Ltd signs MoU for Oil Palm Plantations in the state under NMEO -OP (National Mission on Edible Oil - Oil Palm).
Earlier, in the recently held meeting of NITI Ayog, Chief Minister Dr. Manik Saha said that under the national mission of edible oil-Palm oil, the state has set a target to cultivate palm oil in a 530-hectare area during 2022-23. The Chief Minister also said that an MoU with the Government of India regarding viability gap payment for farmers has already been signed.Later in the press release, it was mentioned that Patanjali Foods Ltd has signed an MoU today with the Director of Horticulture and Soil Conservation, Govt of Tripura in respect of Oil Palm promotion in the State through different area expansion programs and setting up Oil Mill on Oil Palm. Patanjali Foods Ltd is allotted two Zones comprising districts like Khowai, West Tripura, Sepahijala, Gomati, and South districts of Tripura where there is wide scope for oil Palm Plantations in the state against an EOI released by the Department recently.
ETV Bharat
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Nigeria-PET Agro Farms targets N150m investment in oil, cashew processing
PET Agro Farms, a Nigerian-based foreign firm, says plans are on to invest about N150 million in Nigeria via production and processing of oil palm, cashew, and other agricultural production.
The agro-firm said the initiative had become imperative in order to target the foreign market and earn forex into the country during the ongoing forex crisis in the country. Ms Rehab Danladi, Director, Pet Agro Farm, yesterday told the News Agency of NIgeria (NAN) in an interview in Abuja that the farm was looking to start up with 40 plots in Kogi.
“We are already working closely with the Bank of Industry for the local market production while talks are already ongoing with the NEXIM Bank to finance export.
“There is a need for us to go to backward integration now, enough is enough for import, while we process , 80 per cent will be going into the export market, while 20 per cent will be for the local market,” she explained. The Nation OnlineNG
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August 10, 2022
Could Synthetic Palm Oil Displace Natural Palm Oil?
Major commodities supply chains have been disrupted throughout this year, causing extreme price oscillations and shortages in the availability of many food commodities. Among the most impacted is edible oils, with sunflower oil topping the list, given that Russia and Ukraine account for more than 70% of global sunflower oil production. Many prominent food manufacturers and distributors, particularly in Europe who had previously declared their commitment for “No Palm Oil” labels have sheepishly begun a journey that chooses now to revert to palm based formulations in order to help sustain their market shares. Critics who championed against palm oil as unsustainable and contributing towards global deforestation, have possibly taken a temporary back seat for now.
Those in the commodities trade can confirm that total tonnages of certified sustainable palm oil (CSPO) is abundant, yet its actual uptake is lagging. There is an oversupply of CSPO compared to its actual uptake. The accusations against palm oil remain much widespread and recently we witnessed a series of well-funded efforts that boast of possible synthetic alternatives to palm oil, supplemented by the tagline that these aim to save the world from palm oil’s harmful ways.
Well-funded academics are now claiming breakthroughs in the production of “synthetic palm oil”. CPOPC
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Japan-How Kao Reinvented Laundry Detergents With A Breakthrough Sustainable Surfactant
In 2020, a new surfactant won the Minister of Economy, Trade and Industry Award at the 20th Green and Sustainable Chemistry Awards event hosted by the Japan Association for Chemical Innovation. The compound has been highly acclaimed among academic societies in Europe, a leading region in sustainability, and now it is attracting attention from around the world. This extraordinary surfactant is Bio IOS, developed by the Kao Corporation of Japan.
“Not only does Bio IOS use the residue of pressed palm oil collected from the fruit of the palm as a raw material, but it’s more soluble in water, and cleans better than conventional detergent bases, even in small amounts,” says Bio IOS R&D leader Masato Nomura. “It’s also highly biodegradable and has low aquatic biotoxicity. Bio IOS products significantly reduce CO2 emissions and water pollution. This success that has been praised from all quarters.”
Bio IOS has gained widespread recognition for its contribution to environmental sustainability. It has also raised awareness of how surfactants can make a difference. This revolutionary technology and the products that use it embody Kao’s strong customer and social values. Forbes
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Ivory Coast reiterates commitment to bilateral ties with Korea at 62nd Independence Day
Ivory Coast reiterated the country’s commitment to using natural resources, industrialization, developing technology and leaders’ determination to strengthen Ivory Coast-Korea ties at 62nd Independence Day celebrations in South Korea.
Ivory Coast was a French colony from 1893 until it achieved independence on Aug. 7, 1960.
Saying that Ivory Coast is now a stable country of full economic development with dynamic and stable growth, the country’s Ambassador to Korea Allou Wanyou Eugene Biti highlighted his country’s agricultural contribution to the world economy. Korea Herald
Could Synthetic Palm Oil Displace Natural Palm Oil?
Major commodities supply chains have been disrupted throughout this year, causing extreme price oscillations and shortages in the availability of many food commodities. Among the most impacted is edible oils, with sunflower oil topping the list, given that Russia and Ukraine account for more than 70% of global sunflower oil production. Many prominent food manufacturers and distributors, particularly in Europe who had previously declared their commitment for “No Palm Oil” labels have sheepishly begun a journey that chooses now to revert to palm based formulations in order to help sustain their market shares. Critics who championed against palm oil as unsustainable and contributing towards global deforestation, have possibly taken a temporary back seat for now.
Those in the commodities trade can confirm that total tonnages of certified sustainable palm oil (CSPO) is abundant, yet its actual uptake is lagging. There is an oversupply of CSPO compared to its actual uptake. The accusations against palm oil remain much widespread and recently we witnessed a series of well-funded efforts that boast of possible synthetic alternatives to palm oil, supplemented by the tagline that these aim to save the world from palm oil’s harmful ways.
Well-funded academics are now claiming breakthroughs in the production of “synthetic palm oil”. CPOPC
--------
Japan-How Kao Reinvented Laundry Detergents With A Breakthrough Sustainable Surfactant
In 2020, a new surfactant won the Minister of Economy, Trade and Industry Award at the 20th Green and Sustainable Chemistry Awards event hosted by the Japan Association for Chemical Innovation. The compound has been highly acclaimed among academic societies in Europe, a leading region in sustainability, and now it is attracting attention from around the world. This extraordinary surfactant is Bio IOS, developed by the Kao Corporation of Japan.
“Not only does Bio IOS use the residue of pressed palm oil collected from the fruit of the palm as a raw material, but it’s more soluble in water, and cleans better than conventional detergent bases, even in small amounts,” says Bio IOS R&D leader Masato Nomura. “It’s also highly biodegradable and has low aquatic biotoxicity. Bio IOS products significantly reduce CO2 emissions and water pollution. This success that has been praised from all quarters.”
Bio IOS has gained widespread recognition for its contribution to environmental sustainability. It has also raised awareness of how surfactants can make a difference. This revolutionary technology and the products that use it embody Kao’s strong customer and social values. Forbes
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Ivory Coast reiterates commitment to bilateral ties with Korea at 62nd Independence Day
Ivory Coast reiterated the country’s commitment to using natural resources, industrialization, developing technology and leaders’ determination to strengthen Ivory Coast-Korea ties at 62nd Independence Day celebrations in South Korea.
Ivory Coast was a French colony from 1893 until it achieved independence on Aug. 7, 1960.
Saying that Ivory Coast is now a stable country of full economic development with dynamic and stable growth, the country’s Ambassador to Korea Allou Wanyou Eugene Biti highlighted his country’s agricultural contribution to the world economy. Korea Herald
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August 09 2022
Indonesia lowers export tax threshold on crude palm oil to $680/T -ministry
JAKARTA, Aug 9 (Reuters) - Indonesia on Tuesday lowered its threshold for applying export tax on crude palm oil to a reference price of $680 per tonne, down from $750 per tonne previously, according to a finance ministry regulation.
The lowering of the threshold took effect on Tuesday.
The export tax goes up for every $50 price increase in the reference prices, which are set periodically by the trade ministry.
Indonesia's customs office said the changes brought up the current export tax for crude palm oil to $52 per tonne from the previous $33 per tonne, with the reference price currently set at $872.27 per tonne, it said in a separate statement. Reuters
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India’s Quest For Self-sufficiency In Edible Oils
With edible oil imports costing ₹80,000 crore in 2021, and demand rising rapidly, India makes a serious bid to arrest price shocks. Here’s how...
Still, these supply disruptions brought to the forefront the need to slash import dependence in a commodity where, even after 75 years of Independence, only 45% demand is met by domestic production. In order to do exactly that, in August 2021, the government had launched an ambitious National Edible Oil Mission-Oil Palm (NMEO-OP) to reduce dependence on imported edible oil from 55% to 40%. The target is to increase area under oil palm cultivation from 3.7 lakh hectares to 10 lakh hectares and produce 11.2 lakh tonnes crude palm oil or CPO (from 2.72 lakh tonnes in FY21) by FY26 and 28 lakh tonnes by FY30. Since oil palm, with yield of around four tonnes per hectare, produces at least 10 times more oil than other oilseeds, it is considered the only crop that can help India become atmanirbhar or self-reliant in edible oil.
With an outlay of ₹11,040 crore and framework that has been well-received by stakeholders, Centre seems to be doing everything possible to make NMEO-OP work.
India’s attempts to increase domestic edible oil production are not new. “Irrigated oil palm cultivation was introduced in 1983, Technology Mission on Oil Seeds was initiated in 1986,” says Balram Singh Yadav, MD, Godrej Agrovet, which cultivates and processes oil palm. Central government had identified 5.75 lakh hectares in nine states for cultivation of oil palm in 1988. The first Oil Palm Development project was launched in 1990. Fortune India
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India-New oil palm hybrid promises to yield in 24 months, produce more
The new three-way crossed hybrid is being imported by 3F Oil Palm from Malaysia and Costa Rica
A new oil palm hybrid seed sprout, which is being imported by 3F Oil Palm from Malaysia and Costa Rica, promises to significantly change the oil palm yields in the country. The Hindu Businessline
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Sierra Leone passes new laws to boost landowners’ rights
FREETOWN (Reuters) – Sierra Leone’s parliament on Monday passed two laws that lawyers say will help boost the rights of rural landowners and women against land grabs by big mining and agribusiness firms.
The West African country has a history of sometimes deadly conflict between local communities and foreign companies that have cleared huge tracts of land for palm oil and sugarcane plantations in recent years.
Locals have complained of environmental damage, losing their livelihoods and not being fairly compensated for their land. Under the current system, landowners get an annual rent of $2.5 per acre, which was determined by the state.
The Customary Land Rights Act and the Land Commission Act, both enacted on Monday, empower local landowners to negotiate the value of their land with investors and prevent it being leased out without their express consent.
Campaigners and locals praised the move, while one palm oil company executive said it would spell the end of investment.
“To our knowledge there is not a legal regime anywhere, in either hemisphere that grants such robust rights to communities facing harm,” said Eleanor Thompson of Namati, an international legal advocacy group.
A director of SOCFIN, the biggest agribusiness company in Sierra Leone, called it a “dream of NGOs”. KELO/ Reuters
Indonesia lowers export tax threshold on crude palm oil to $680/T -ministry
JAKARTA, Aug 9 (Reuters) - Indonesia on Tuesday lowered its threshold for applying export tax on crude palm oil to a reference price of $680 per tonne, down from $750 per tonne previously, according to a finance ministry regulation.
The lowering of the threshold took effect on Tuesday.
The export tax goes up for every $50 price increase in the reference prices, which are set periodically by the trade ministry.
Indonesia's customs office said the changes brought up the current export tax for crude palm oil to $52 per tonne from the previous $33 per tonne, with the reference price currently set at $872.27 per tonne, it said in a separate statement. Reuters
--------
India’s Quest For Self-sufficiency In Edible Oils
With edible oil imports costing ₹80,000 crore in 2021, and demand rising rapidly, India makes a serious bid to arrest price shocks. Here’s how...
Still, these supply disruptions brought to the forefront the need to slash import dependence in a commodity where, even after 75 years of Independence, only 45% demand is met by domestic production. In order to do exactly that, in August 2021, the government had launched an ambitious National Edible Oil Mission-Oil Palm (NMEO-OP) to reduce dependence on imported edible oil from 55% to 40%. The target is to increase area under oil palm cultivation from 3.7 lakh hectares to 10 lakh hectares and produce 11.2 lakh tonnes crude palm oil or CPO (from 2.72 lakh tonnes in FY21) by FY26 and 28 lakh tonnes by FY30. Since oil palm, with yield of around four tonnes per hectare, produces at least 10 times more oil than other oilseeds, it is considered the only crop that can help India become atmanirbhar or self-reliant in edible oil.
With an outlay of ₹11,040 crore and framework that has been well-received by stakeholders, Centre seems to be doing everything possible to make NMEO-OP work.
India’s attempts to increase domestic edible oil production are not new. “Irrigated oil palm cultivation was introduced in 1983, Technology Mission on Oil Seeds was initiated in 1986,” says Balram Singh Yadav, MD, Godrej Agrovet, which cultivates and processes oil palm. Central government had identified 5.75 lakh hectares in nine states for cultivation of oil palm in 1988. The first Oil Palm Development project was launched in 1990. Fortune India
--------
India-New oil palm hybrid promises to yield in 24 months, produce more
The new three-way crossed hybrid is being imported by 3F Oil Palm from Malaysia and Costa Rica
A new oil palm hybrid seed sprout, which is being imported by 3F Oil Palm from Malaysia and Costa Rica, promises to significantly change the oil palm yields in the country. The Hindu Businessline
--------
Sierra Leone passes new laws to boost landowners’ rights
FREETOWN (Reuters) – Sierra Leone’s parliament on Monday passed two laws that lawyers say will help boost the rights of rural landowners and women against land grabs by big mining and agribusiness firms.
The West African country has a history of sometimes deadly conflict between local communities and foreign companies that have cleared huge tracts of land for palm oil and sugarcane plantations in recent years.
Locals have complained of environmental damage, losing their livelihoods and not being fairly compensated for their land. Under the current system, landowners get an annual rent of $2.5 per acre, which was determined by the state.
The Customary Land Rights Act and the Land Commission Act, both enacted on Monday, empower local landowners to negotiate the value of their land with investors and prevent it being leased out without their express consent.
Campaigners and locals praised the move, while one palm oil company executive said it would spell the end of investment.
“To our knowledge there is not a legal regime anywhere, in either hemisphere that grants such robust rights to communities facing harm,” said Eleanor Thompson of Namati, an international legal advocacy group.
A director of SOCFIN, the biggest agribusiness company in Sierra Leone, called it a “dream of NGOs”. KELO/ Reuters
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August 08, 2022
India-Tripura Initiates 3-Yrs Plan For Socio-Economic Upliftment Of Farmers : CM Saha
Agartala, August 08, 2022 : Tripura Chief Minister Dr Manik Saha on Sunday in his address to the 7th Governing Council of Niti Aayog was held in New Delhi highlighted the the action plans and achievements in various fields of the state. He also gave special importance to administrative initiatives focused on agriculture, education, urban planning and civic amenities.
The meeting was held under the chairmanship of Prime Minister Narendra Modi in the presence of Vice Chairman of NITI Aayog, members of the Governing Council of the Aayog and Chief Ministers of various states were also present.
Speaking about the initiatives of the state government in the field of agriculture, Chief Minister Dr Manik Saha said “the state government has undertaken a three-year plan (2020-21 to 2022-23) for food security, nutritional security, soil quality improvement and socio-economic upliftment of farmers. Under this plan, 50,000 hectares of land will be diversified by planting maize and millet. That is why high quality seeds have been supplied to the farmers from NSC. Moreover, financial assistance of Rs 6,000 per hectare for cultivation of hybrid maize and Rs 9,000 per hectare for cultivation of mashkalai has been provided under Rashtriya Krishi Bikash Yojana and NFSM scheme. Besides, emphasis has been laid on use of new hybrids and high yielding seeds, cluster farming, irrigation facilities, processing facilities and skill enhancement of farmers. North East Today
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Malaysia-Kulim set plans to construct palm-fibre oil extraction plant in Johor
KUALA LUMPUR: Kulim (Malaysia) Bhd (KULIM), through its plantation subsidiary, Mahamurni Plantations Sdn Bhd (MPSB), will build its palm-fibre oil extraction (PFOE) plant in Sedenak palm oil mill in Johor.
As part of its waste to treasure initiative, the PFOE plant extracts oil from mesocarp fibre from the processed fresh fruit bunches to produce red palm oil that can be sold at 85 per cent of the crude palm oil price.
It would generate a new income stream for the Group with an estimated RM8 million annually.
MPSB today signed a contract agreement with Eonmetall Technology Sdn Bhd (ETSB), a subsidiary of Eonmetall Group Bhd based in Penang, to build the plant, which is to be ready in the third quarter of next year. New Straits Times
India-Tripura Initiates 3-Yrs Plan For Socio-Economic Upliftment Of Farmers : CM Saha
Agartala, August 08, 2022 : Tripura Chief Minister Dr Manik Saha on Sunday in his address to the 7th Governing Council of Niti Aayog was held in New Delhi highlighted the the action plans and achievements in various fields of the state. He also gave special importance to administrative initiatives focused on agriculture, education, urban planning and civic amenities.
The meeting was held under the chairmanship of Prime Minister Narendra Modi in the presence of Vice Chairman of NITI Aayog, members of the Governing Council of the Aayog and Chief Ministers of various states were also present.
Speaking about the initiatives of the state government in the field of agriculture, Chief Minister Dr Manik Saha said “the state government has undertaken a three-year plan (2020-21 to 2022-23) for food security, nutritional security, soil quality improvement and socio-economic upliftment of farmers. Under this plan, 50,000 hectares of land will be diversified by planting maize and millet. That is why high quality seeds have been supplied to the farmers from NSC. Moreover, financial assistance of Rs 6,000 per hectare for cultivation of hybrid maize and Rs 9,000 per hectare for cultivation of mashkalai has been provided under Rashtriya Krishi Bikash Yojana and NFSM scheme. Besides, emphasis has been laid on use of new hybrids and high yielding seeds, cluster farming, irrigation facilities, processing facilities and skill enhancement of farmers. North East Today
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Malaysia-Kulim set plans to construct palm-fibre oil extraction plant in Johor
KUALA LUMPUR: Kulim (Malaysia) Bhd (KULIM), through its plantation subsidiary, Mahamurni Plantations Sdn Bhd (MPSB), will build its palm-fibre oil extraction (PFOE) plant in Sedenak palm oil mill in Johor.
As part of its waste to treasure initiative, the PFOE plant extracts oil from mesocarp fibre from the processed fresh fruit bunches to produce red palm oil that can be sold at 85 per cent of the crude palm oil price.
It would generate a new income stream for the Group with an estimated RM8 million annually.
MPSB today signed a contract agreement with Eonmetall Technology Sdn Bhd (ETSB), a subsidiary of Eonmetall Group Bhd based in Penang, to build the plant, which is to be ready in the third quarter of next year. New Straits Times
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August 07, 2022
Ghana-Upper Denkyira West rallies investment for oil palm processing
A state-of-the-art palm oil and palm kernel oil processing factory is to be established at Nkwantanum in the Upper Denkyira West District of the Central Region.
The vision is a springboard to actualise the government’s implementation of the ‘Planting for Export and Rural Development (PERD)’ programme and industrialisation, Mr Richmond Koduah, the District Chief Executive (DCE) has said.
He told the Ghana News Agency, the PERD initiative is intended to within five years, promote sustainable growth and development of the agriculture sector as part of ‘Planting for Food and Jobs (PFJ)’ programme.
To attract and retain investments, he stated that the Assembly had secured a 2.5-acre land with completed designs and a business plan prepared for any public and private partnership.
A total of GH¢1,400,000.00 is expected to be invested in the project according to a feasibility study conducted by the Assembly.
Above all, the district has thousands of oil palm plantations particularly at Nkronua and Abora, coupled with the continuous distribution of oil palm seedling through the PERD programme. Ghana Business News
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India-PM Narendra Modi to chair NITI Aayog governing council meeting on August 7
The agenda of the seventh governing council meeting of the NITI Aayog includes crop diversification, achieving self-sufficiency in oilseeds, pulses and agri-communities, implementation of the National Education Policy and urban governance.
Prime Minister Narendra Modi will chair the seventh governing council meeting of the NITI Aayog on August 7 and this, his office said, will pave the way for a new era of collaboration between the Centre and the States.
This will be the first physical meeting of the Council after July 2019 and its members include all the Chief Ministers.
As the country commemorates 75 years of its independence, there is a reinforced need for the States to be agile, resilient and self-reliant and move towards "Aatmanirbhar Bharat" in a spirit of cooperative federalism, the Prime Minister's Office (PMO) said. The Hindu
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Malaysia-Advancing Graphene Technology in Malaysia
Malaysia’s Minister of Science, Technology and Innovation recently witnessed the signing of a Memorandum of Understanding (MoU) between two leading firms. Under this MoU, one of the firms, a leading company from Japan and well-known internationally, has been granted the exclusive right to distribute the graphite and graphene produced by a Malaysia-based graphene and graphite producer in Japan.
Looking at the Japanese firm’s strong track record and Japan as one of the main hubs of the automotive industry, this collaboration is seen to be able to promote Malaysian-made graphene materials.
The graphene producer, meanwhile, has pioneered an innovative approach to producing graphene from palm kernels. This patented technology is a solution that will advance the development of graphene. The technology that uses the palm kernel as the main ingredient in the production of graphene also gives Malaysia an advantage to supply raw materials in the production of graphene since Malaysia is one of the world’s largest producers of palm oil.
According to the Minister, this collaboration can provide great benefits to both firms since they are major players in their respective industries. It will provide significant revenue growth to both companies, further driving the Malaysian and Japanese economies. OpenGov Asia
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Thailand-Green energy firm Tha Chang unveils roadmap as it prepares to list on SET
The company aims to play a leading role in steering the country towards the global mega-trend of being environmentally friendly.
The disclosure at Thursday's online press conference also comes at a time when the company is preparing to list on the Stock Exchange of Thailand and launch its first initial public offering (IPO) next week.
Pongnarin Wansuwankul, chairman of the TGE's executive committee, stated that the plan sets growth targets for the short, medium, and long term so that investors can be assured their investment in TGE will yield returns.
The firm's earnings at present are derived from three biomass power generation plants in Surat Thani province. To generate electricity, the plants burned agricultural waste such as palm leaves and wood chips from rubber farms.
The biomass power plants have a total capacity of 29.7 megawatts Nation Thailand
Ghana-Upper Denkyira West rallies investment for oil palm processing
A state-of-the-art palm oil and palm kernel oil processing factory is to be established at Nkwantanum in the Upper Denkyira West District of the Central Region.
The vision is a springboard to actualise the government’s implementation of the ‘Planting for Export and Rural Development (PERD)’ programme and industrialisation, Mr Richmond Koduah, the District Chief Executive (DCE) has said.
He told the Ghana News Agency, the PERD initiative is intended to within five years, promote sustainable growth and development of the agriculture sector as part of ‘Planting for Food and Jobs (PFJ)’ programme.
To attract and retain investments, he stated that the Assembly had secured a 2.5-acre land with completed designs and a business plan prepared for any public and private partnership.
A total of GH¢1,400,000.00 is expected to be invested in the project according to a feasibility study conducted by the Assembly.
Above all, the district has thousands of oil palm plantations particularly at Nkronua and Abora, coupled with the continuous distribution of oil palm seedling through the PERD programme. Ghana Business News
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India-PM Narendra Modi to chair NITI Aayog governing council meeting on August 7
The agenda of the seventh governing council meeting of the NITI Aayog includes crop diversification, achieving self-sufficiency in oilseeds, pulses and agri-communities, implementation of the National Education Policy and urban governance.
Prime Minister Narendra Modi will chair the seventh governing council meeting of the NITI Aayog on August 7 and this, his office said, will pave the way for a new era of collaboration between the Centre and the States.
This will be the first physical meeting of the Council after July 2019 and its members include all the Chief Ministers.
As the country commemorates 75 years of its independence, there is a reinforced need for the States to be agile, resilient and self-reliant and move towards "Aatmanirbhar Bharat" in a spirit of cooperative federalism, the Prime Minister's Office (PMO) said. The Hindu
--------
Malaysia-Advancing Graphene Technology in Malaysia
Malaysia’s Minister of Science, Technology and Innovation recently witnessed the signing of a Memorandum of Understanding (MoU) between two leading firms. Under this MoU, one of the firms, a leading company from Japan and well-known internationally, has been granted the exclusive right to distribute the graphite and graphene produced by a Malaysia-based graphene and graphite producer in Japan.
Looking at the Japanese firm’s strong track record and Japan as one of the main hubs of the automotive industry, this collaboration is seen to be able to promote Malaysian-made graphene materials.
The graphene producer, meanwhile, has pioneered an innovative approach to producing graphene from palm kernels. This patented technology is a solution that will advance the development of graphene. The technology that uses the palm kernel as the main ingredient in the production of graphene also gives Malaysia an advantage to supply raw materials in the production of graphene since Malaysia is one of the world’s largest producers of palm oil.
According to the Minister, this collaboration can provide great benefits to both firms since they are major players in their respective industries. It will provide significant revenue growth to both companies, further driving the Malaysian and Japanese economies. OpenGov Asia
--------
Thailand-Green energy firm Tha Chang unveils roadmap as it prepares to list on SET
The company aims to play a leading role in steering the country towards the global mega-trend of being environmentally friendly.
The disclosure at Thursday's online press conference also comes at a time when the company is preparing to list on the Stock Exchange of Thailand and launch its first initial public offering (IPO) next week.
Pongnarin Wansuwankul, chairman of the TGE's executive committee, stated that the plan sets growth targets for the short, medium, and long term so that investors can be assured their investment in TGE will yield returns.
The firm's earnings at present are derived from three biomass power generation plants in Surat Thani province. To generate electricity, the plants burned agricultural waste such as palm leaves and wood chips from rubber farms.
The biomass power plants have a total capacity of 29.7 megawatts Nation Thailand
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August 06, 2022
Africa-Fears EU laws could stop African countries accessing markets
Leading cocoa producers Côte d’Ivoire and Ghana have reported significant progress in ending deforestation as they prepare for the potential introduction of strict new EU sustainability laws.
The two countries released reports claiming they have reached new traceability milestones.
Côte d’Ivoire said it had mapped 3.2m hectares of cocoa farms while Ghana said it had mapped 72% of its total cocoa growing area via its national Cocoa Management System.
This covers 515,762 farmers and 845,635 farms.
West African cocoa producing nations currently fear that strictly sustainability rules being mooted by the EU and Switzerland could prevent them accessing European markets. CIPS
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Nigeria-Edo To Shore Up Investment In Oil Palm Production
The Edo State government has disclosed plans to bridge at least 20 per cent supply gap of Nigeria’s oil palm market. The state Governor, Godwin Obaseki, in a chat with newsmen, said with the inflow of investment into the state through the Edo State Oil Palm Programme (ESOPP), it would massively increase oil palm cultivation.
Obaseki noted that the state had prioritised development of oil palm plantations because of its comparative advantage in the cash crop following years of hosting companies listed on the Nigerian Stock Exchange, like Okomu Plc and Presco Plc.
His words: “One of my campaign promises was to create jobs. With my background as an investment banker, given the vagaries of the Nigerian economy, it was obvious that we needed to pursue diversification. “With an increasing population, one way to diversify and create employment was to send out youths back to the farm.
The government is prioritising agriculture by ensuring access to land and extension services in order to boost production; this led to the setting up of the Edo State Oil Palm Programme (ESOPP).” The governor noted that Nigeria had a supply gap of crude palm oil and other products from oil palm, saying the deficiency led to importation of the product by many companies. “There is a supply gap of about 650,000mt, which can be closed by cultivating about 350,000 hectares of oil palm plantation. In Edo, through ESOPP, we have already commenced cultivation of 70,000 hectares and will add another 20,000 hectares soon. That means we are closing the gap by 20 per cent, with about 100,000 hectares,” he explained. New Telegraph
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India-Towards self-reliance in edible oils
The Oil Palm Mission and BT Mustard together can help boost domestic output, and cut dependence on imports
India is the second largest edible oil market in the world. It consumes, on an average, 21 million tonnes (mt) of edible oil each year, of which, 7-8 mt are produced locally, while 13 mt — that is, 66-68 per cent — are imported. This makes India the No.1 importer, with close to $18 billion outflow last year.
According to a 2018 Rabobank report, the annual consumption of edible oil is set to cross 34 mt by 2030, which would require import of almost 25 mt. The estimated 73 per cent dependency on imports makes it a food security concern. And what makes matters worse is that we are dependent disproportionately on individual countries.
This skewed dependence reared its ugly head recently: first, the Russia-Ukraine war stopped sunflower oil flows from Ukraine, and this was followed by Indonesia’s ban on palm oil exports. A price rally of more than 50 per cent followed, impacting both the industry and the consumers.
The industry battled with price volatility and increased working capital requirements, while keeping the plants running with paltry supply from alternative origins. Hence an integrated approach is required to tackle these issues on an immediate and long-term basis. The Hindu Businessline
Africa-Fears EU laws could stop African countries accessing markets
Leading cocoa producers Côte d’Ivoire and Ghana have reported significant progress in ending deforestation as they prepare for the potential introduction of strict new EU sustainability laws.
The two countries released reports claiming they have reached new traceability milestones.
Côte d’Ivoire said it had mapped 3.2m hectares of cocoa farms while Ghana said it had mapped 72% of its total cocoa growing area via its national Cocoa Management System.
This covers 515,762 farmers and 845,635 farms.
West African cocoa producing nations currently fear that strictly sustainability rules being mooted by the EU and Switzerland could prevent them accessing European markets. CIPS
--------
Nigeria-Edo To Shore Up Investment In Oil Palm Production
The Edo State government has disclosed plans to bridge at least 20 per cent supply gap of Nigeria’s oil palm market. The state Governor, Godwin Obaseki, in a chat with newsmen, said with the inflow of investment into the state through the Edo State Oil Palm Programme (ESOPP), it would massively increase oil palm cultivation.
Obaseki noted that the state had prioritised development of oil palm plantations because of its comparative advantage in the cash crop following years of hosting companies listed on the Nigerian Stock Exchange, like Okomu Plc and Presco Plc.
His words: “One of my campaign promises was to create jobs. With my background as an investment banker, given the vagaries of the Nigerian economy, it was obvious that we needed to pursue diversification. “With an increasing population, one way to diversify and create employment was to send out youths back to the farm.
The government is prioritising agriculture by ensuring access to land and extension services in order to boost production; this led to the setting up of the Edo State Oil Palm Programme (ESOPP).” The governor noted that Nigeria had a supply gap of crude palm oil and other products from oil palm, saying the deficiency led to importation of the product by many companies. “There is a supply gap of about 650,000mt, which can be closed by cultivating about 350,000 hectares of oil palm plantation. In Edo, through ESOPP, we have already commenced cultivation of 70,000 hectares and will add another 20,000 hectares soon. That means we are closing the gap by 20 per cent, with about 100,000 hectares,” he explained. New Telegraph
---------
India-Towards self-reliance in edible oils
The Oil Palm Mission and BT Mustard together can help boost domestic output, and cut dependence on imports
India is the second largest edible oil market in the world. It consumes, on an average, 21 million tonnes (mt) of edible oil each year, of which, 7-8 mt are produced locally, while 13 mt — that is, 66-68 per cent — are imported. This makes India the No.1 importer, with close to $18 billion outflow last year.
According to a 2018 Rabobank report, the annual consumption of edible oil is set to cross 34 mt by 2030, which would require import of almost 25 mt. The estimated 73 per cent dependency on imports makes it a food security concern. And what makes matters worse is that we are dependent disproportionately on individual countries.
This skewed dependence reared its ugly head recently: first, the Russia-Ukraine war stopped sunflower oil flows from Ukraine, and this was followed by Indonesia’s ban on palm oil exports. A price rally of more than 50 per cent followed, impacting both the industry and the consumers.
The industry battled with price volatility and increased working capital requirements, while keeping the plants running with paltry supply from alternative origins. Hence an integrated approach is required to tackle these issues on an immediate and long-term basis. The Hindu Businessline
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August 04, 2022
Malaysia says ready to help India meet palm oil demand
KUALA LUMPUR (Aug 4): Malaysia is prepared to meet India's demand for palm oil in light of potentially inconsistent supply from Indonesia as a result of changes in palm oil export policy, which have created market uncertainty for major importing countries.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said that in less than one year, Indonesia's policy on palm oil export has created market uncertainties in major importing countries like India.
“The MPIC (Ministry of Plantation Industries and Commodities) will step up efforts to promote Malaysian palm oil, not just in India but throughout the world, including non-traditional markets in line with ‘The Global Movement to Champion the Goodness of Palm Oil’ campaign,” she said in a statement on Thursday (Aug 4).
Quoting the Indian Vegetable Oil Producers’ Association (IVPA) president Sudhakar Desai, Zuraida said Malaysia has kept its policy pertaining to palm oil trading in a stable manner, thus it was able to meet India's demand during the period of Indonesia’s ban on palm oil export.
“Sudhakar was also quoted as saying that Malaysia's good supply chain played a crucial role in the edible oil security for India’s demand in the last two months,” she added. The Edge Markets
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Indian state bets big on oil palm to cut $19 billion vegoil imports
SATHUPALLY, India, August 3 (Reuters) - Pullarao Daravathu and thousands of fellow farmers from Telangana in India's south are busy planting oil palms as their home state aims to add more area under the controversial crop within four years than the entire country has in decades.
Telangana is targeting 2 million additional acres under oil palm cultivation in the next four years, and is going to great lengths to achieve this goal - from building large dams and irrigation canals to importing millions of germinated sprouts.
Generous government subsidies and bumper profit potential compared to other crops are also encouraging farmers like Daravathu to shift to oil palms.
"Oil palm is giving more than 200,000 Indian rupees ($2,536) per acre return to farmers who planted the crop some years back. In rice, I am struggling to earn 40,000 rupees even after putting in lots of effort," said Daravathu, who was planting oil palm on his 5-acre farm at Sathupally, nearly 300 km (186 miles) east of Hyderabad, the state capital. Reuters
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Nigeria-Soludo kicks off agric revolution in Anambra, orders distribution of palm seedlings
ANAMBRA State Governor, Professor Chukwuma Soludo has commenced what he called cash crop revolution programme in the state, by ordering for distribution of millions of coconut and palm seedlings procured by the state government to farmers across the state.
Already, the state government has constituted a committee drawn from the three senatorial zones of the state to map out strategies for distributing the seedlings in the various communities.
Commissioner for information, Mr Paul Nwosu, who spoke after the state’s weekly executive council meeting in Awka said it was in furtherance of Soludo’s plans to reenact some of the agricultural policies of the first Republic Premier of the Eastern region, the late Dr Michael Okpara whose agricultural revolution was exemplary.
Nwosu said: “In furtherance of government policy to re-enact the prosperous era of Chief M.I Okpara in the old Eastern region when cash crops were the main source of revenue, Anambra State Executive Council has constituted a committee drawn from the three Senatorial zones to map out strategies for distributing the millions of coconut and palm seedlings which have been procured. Vanguard NGR
Malaysia says ready to help India meet palm oil demand
KUALA LUMPUR (Aug 4): Malaysia is prepared to meet India's demand for palm oil in light of potentially inconsistent supply from Indonesia as a result of changes in palm oil export policy, which have created market uncertainty for major importing countries.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said that in less than one year, Indonesia's policy on palm oil export has created market uncertainties in major importing countries like India.
“The MPIC (Ministry of Plantation Industries and Commodities) will step up efforts to promote Malaysian palm oil, not just in India but throughout the world, including non-traditional markets in line with ‘The Global Movement to Champion the Goodness of Palm Oil’ campaign,” she said in a statement on Thursday (Aug 4).
Quoting the Indian Vegetable Oil Producers’ Association (IVPA) president Sudhakar Desai, Zuraida said Malaysia has kept its policy pertaining to palm oil trading in a stable manner, thus it was able to meet India's demand during the period of Indonesia’s ban on palm oil export.
“Sudhakar was also quoted as saying that Malaysia's good supply chain played a crucial role in the edible oil security for India’s demand in the last two months,” she added. The Edge Markets
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Indian state bets big on oil palm to cut $19 billion vegoil imports
SATHUPALLY, India, August 3 (Reuters) - Pullarao Daravathu and thousands of fellow farmers from Telangana in India's south are busy planting oil palms as their home state aims to add more area under the controversial crop within four years than the entire country has in decades.
Telangana is targeting 2 million additional acres under oil palm cultivation in the next four years, and is going to great lengths to achieve this goal - from building large dams and irrigation canals to importing millions of germinated sprouts.
Generous government subsidies and bumper profit potential compared to other crops are also encouraging farmers like Daravathu to shift to oil palms.
"Oil palm is giving more than 200,000 Indian rupees ($2,536) per acre return to farmers who planted the crop some years back. In rice, I am struggling to earn 40,000 rupees even after putting in lots of effort," said Daravathu, who was planting oil palm on his 5-acre farm at Sathupally, nearly 300 km (186 miles) east of Hyderabad, the state capital. Reuters
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Nigeria-Soludo kicks off agric revolution in Anambra, orders distribution of palm seedlings
ANAMBRA State Governor, Professor Chukwuma Soludo has commenced what he called cash crop revolution programme in the state, by ordering for distribution of millions of coconut and palm seedlings procured by the state government to farmers across the state.
Already, the state government has constituted a committee drawn from the three senatorial zones of the state to map out strategies for distributing the seedlings in the various communities.
Commissioner for information, Mr Paul Nwosu, who spoke after the state’s weekly executive council meeting in Awka said it was in furtherance of Soludo’s plans to reenact some of the agricultural policies of the first Republic Premier of the Eastern region, the late Dr Michael Okpara whose agricultural revolution was exemplary.
Nwosu said: “In furtherance of government policy to re-enact the prosperous era of Chief M.I Okpara in the old Eastern region when cash crops were the main source of revenue, Anambra State Executive Council has constituted a committee drawn from the three Senatorial zones to map out strategies for distributing the millions of coconut and palm seedlings which have been procured. Vanguard NGR
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August 02, 2022
Indonesia-CPO Export Permit Corruption Case Goes to Trial Soon: AGO
TEMPO.CO, Jakarta - The Attorney General's Office (AGO) has handed over the case files of the alleged CPO export permit corruption to the Central Jakarta District Attorney on Monday, August 1. After that, the prosecutors' team will immediately prepare an indictment in order to have the case tried at the Central Jakarta Corruption Court.
The information was revealed by the AGO's head of Legal Information, Ketut Sumedana, Monday.
There are five suspects in the case; Indrasari Wisnu Wardhana, the Trade Ministry's former director general of foreign trade; Master Parulian Tumanggor, commissioner of Wilmar Nabati Indonesia; Stanley MA, senior manager of corporate affairs at Pelita Agung Agrindustri/Permata Hijau Group; Picare Tagore Sitanggang, general manager of general affairs at PT Musim Mas; and Lin Che Wei, founder and policy/analysis advisor at PT Independent Research & Advisory Indonesia, whose services were used by the Trade Ministry.
After the transfer of suspects' files, they will be detained for 20 days until August 20.
The suspects are charged with violating laws on corruption. "The actions of the suspects in this case resulted in a state economic loss of around Rp18.33 trillion," he said. Tempo
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Korea-Lotte Confectionery, Hyundai Oilbank team up for biodiesel business
Lotte Confectionery and Hyundai Oilbank have joined hands to produce biodiesel from recycled cooking oils, the country’s first cross-industry collaboration between a food company and an oil refiner that is also expected to expedite the former’s advance into the oleochemical market and the latter into the white biotechnology sector.
The Korean confectionery giant and leading oil refiner said on Monday they have signed a memorandum of understanding to form a strategic partnership in the supply of biodiesel feedstock for diesel. Lotte Confectionery will provide by-products to be generated from food manufacturing and distribution processes in Korea and overseas as raw materials for Hyundai Oilbank’s biodiesel production.
The partnership is expected to accelerate Lotte Group’s effort to groom oleochemical business, which deals with non-edible oils to recycle edible oils from biscuit and food manufacturing to make biodiesel, cosmetics, and soap, as a new growth engine.
This would also pave the way for Hyundai Oilbank’s advance into the white biotechnology industry by manufacturing not only biodiesel but also jet fuel with edible and palm oils from Lotte Confectionery instead of overseas suppliers. White bio business refers to the production of various energy sources and chemical materials by using plant resources as raw materials. Pulse NewsKR
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Nigeria-FG focused on boosting farm crops for global market – Cross River govt
Farmers in Cross River State have received technical knowledge of how to boost the production of their farm yields, especially palm oil and cassava to enable them meet global demands.
Cross River State Committee on Export Promotion in collaboration with the state Ministry of Commerce organised a one-day sensitization forum on positioning Oil Palm and Cassava as major Export products of the state.
This drew academicians and other experts from the Nigeria Export Promotion Council, NIFOR, Cassava Growers Association, CBN and others.
One of the cassava farmers, Mr Abang Peter who attended the event said, “I am satisfied and was really impacted throughout the session.
“I have gained a lot. I will now go back and Improve in my production. Now that I have discovered that cassava is one of the major export products in the country I will go back to improve on my output”.
Another participant, Ofem Oyong, an Oil Palm farmer said his eyes were opened to see the new, technical ways to boost the oil palm business.
He opined that he will improve and increase his yield for export. “I will go all out to ensure I improve and increase yield to meet International standards for export”. Daily PostNG
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Indonesia-Hundreds of Sinar Mas Company 'Subsidiary' Farmers Don't Want to Join RSPO Anymore. Huh?
Rengat, elaeis.co - No less than 383 oil palm farmers who are members of the New Life Village Unit Cooperative (KUD) in Petala Bumi Village, Seberida District, Indragiri Hulu (Inhu) Regency, Riau Province no longer want to participate in the Roundtable on Sustainable Palm certification program Oil (RSPO) .
"There is no return for the certificate made by Europe. Even though we have had the RSPO Certificate since 2014. So, the RSPO team will audit certification again at the partner plantation of PT Mega Nusa Inti Sawit. Well, we don't want to participate anymore. ," said the Chairman of the New Life KUD, Muahmmad Rokim to elaeis.co, yesterday.
The refusal, said Rokim, had been sent by the KUD management in writing to PT Mega Nusa Inti Sawit on July 20, 2022. Mega itself is a subsidiary of PT. Sinar Mas Agro Resources and Technology (PT. SMART) . "We refuse until there is an agreement on the incentives for the certification program," he said.
Because they could not get anything from the RSPO, Rokim considered that their plantation area of 700 hectares was only an object of facilitating the export business of Crude Palm Oil (CPO) to foreign countries.
While there are other farmers in Riau who are also partners and have RSPO certification, each year they receive more money.
"Just look at the partner farmers of Asian Agri's subsidiaries, they receive a fantastic amount of money because the company makes the price of fresh fruit bunches (FFB) for oil palm farmers Rp150 higher than the price determined by the Disbun," he said. Elaeis.co
Indonesia-CPO Export Permit Corruption Case Goes to Trial Soon: AGO
TEMPO.CO, Jakarta - The Attorney General's Office (AGO) has handed over the case files of the alleged CPO export permit corruption to the Central Jakarta District Attorney on Monday, August 1. After that, the prosecutors' team will immediately prepare an indictment in order to have the case tried at the Central Jakarta Corruption Court.
The information was revealed by the AGO's head of Legal Information, Ketut Sumedana, Monday.
There are five suspects in the case; Indrasari Wisnu Wardhana, the Trade Ministry's former director general of foreign trade; Master Parulian Tumanggor, commissioner of Wilmar Nabati Indonesia; Stanley MA, senior manager of corporate affairs at Pelita Agung Agrindustri/Permata Hijau Group; Picare Tagore Sitanggang, general manager of general affairs at PT Musim Mas; and Lin Che Wei, founder and policy/analysis advisor at PT Independent Research & Advisory Indonesia, whose services were used by the Trade Ministry.
After the transfer of suspects' files, they will be detained for 20 days until August 20.
The suspects are charged with violating laws on corruption. "The actions of the suspects in this case resulted in a state economic loss of around Rp18.33 trillion," he said. Tempo
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Korea-Lotte Confectionery, Hyundai Oilbank team up for biodiesel business
Lotte Confectionery and Hyundai Oilbank have joined hands to produce biodiesel from recycled cooking oils, the country’s first cross-industry collaboration between a food company and an oil refiner that is also expected to expedite the former’s advance into the oleochemical market and the latter into the white biotechnology sector.
The Korean confectionery giant and leading oil refiner said on Monday they have signed a memorandum of understanding to form a strategic partnership in the supply of biodiesel feedstock for diesel. Lotte Confectionery will provide by-products to be generated from food manufacturing and distribution processes in Korea and overseas as raw materials for Hyundai Oilbank’s biodiesel production.
The partnership is expected to accelerate Lotte Group’s effort to groom oleochemical business, which deals with non-edible oils to recycle edible oils from biscuit and food manufacturing to make biodiesel, cosmetics, and soap, as a new growth engine.
This would also pave the way for Hyundai Oilbank’s advance into the white biotechnology industry by manufacturing not only biodiesel but also jet fuel with edible and palm oils from Lotte Confectionery instead of overseas suppliers. White bio business refers to the production of various energy sources and chemical materials by using plant resources as raw materials. Pulse NewsKR
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Nigeria-FG focused on boosting farm crops for global market – Cross River govt
Farmers in Cross River State have received technical knowledge of how to boost the production of their farm yields, especially palm oil and cassava to enable them meet global demands.
Cross River State Committee on Export Promotion in collaboration with the state Ministry of Commerce organised a one-day sensitization forum on positioning Oil Palm and Cassava as major Export products of the state.
This drew academicians and other experts from the Nigeria Export Promotion Council, NIFOR, Cassava Growers Association, CBN and others.
One of the cassava farmers, Mr Abang Peter who attended the event said, “I am satisfied and was really impacted throughout the session.
“I have gained a lot. I will now go back and Improve in my production. Now that I have discovered that cassava is one of the major export products in the country I will go back to improve on my output”.
Another participant, Ofem Oyong, an Oil Palm farmer said his eyes were opened to see the new, technical ways to boost the oil palm business.
He opined that he will improve and increase his yield for export. “I will go all out to ensure I improve and increase yield to meet International standards for export”. Daily PostNG
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Indonesia-Hundreds of Sinar Mas Company 'Subsidiary' Farmers Don't Want to Join RSPO Anymore. Huh?
Rengat, elaeis.co - No less than 383 oil palm farmers who are members of the New Life Village Unit Cooperative (KUD) in Petala Bumi Village, Seberida District, Indragiri Hulu (Inhu) Regency, Riau Province no longer want to participate in the Roundtable on Sustainable Palm certification program Oil (RSPO) .
"There is no return for the certificate made by Europe. Even though we have had the RSPO Certificate since 2014. So, the RSPO team will audit certification again at the partner plantation of PT Mega Nusa Inti Sawit. Well, we don't want to participate anymore. ," said the Chairman of the New Life KUD, Muahmmad Rokim to elaeis.co, yesterday.
The refusal, said Rokim, had been sent by the KUD management in writing to PT Mega Nusa Inti Sawit on July 20, 2022. Mega itself is a subsidiary of PT. Sinar Mas Agro Resources and Technology (PT. SMART) . "We refuse until there is an agreement on the incentives for the certification program," he said.
Because they could not get anything from the RSPO, Rokim considered that their plantation area of 700 hectares was only an object of facilitating the export business of Crude Palm Oil (CPO) to foreign countries.
While there are other farmers in Riau who are also partners and have RSPO certification, each year they receive more money.
"Just look at the partner farmers of Asian Agri's subsidiaries, they receive a fantastic amount of money because the company makes the price of fresh fruit bunches (FFB) for oil palm farmers Rp150 higher than the price determined by the Disbun," he said. Elaeis.co
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August 01,2022
REPORT-State of play in EU trade policy
After a slow year, the EU’s free trade agenda is picking up speed under the Czech EU Council presidency. Nevertheless, more momentum still seems to be on the unilateral trade measures currently being negotiated in the bloc.
In early 2021, the European Commission presented a new trade strategy, arguing for an “open, sustainable, and assertive trade policy.” However, from these three goals, “the openness has been a little bit neglected”, a senior EU diplomat told EURACTIV.
One reason for this is structural. In a geopolitically more tense environment where trade dependencies are levered for political purposes, assertiveness seems more urgent than further opening up.
The other reason was timing, with the French government having blocked any major trade deal ahead of the French presidential and parliamentary elections earlier this year.
That is why member state trade ministers focused on toughening up EU trade policy under the French presidency of the EU Council. They made access to public procurement in the EU dependent on mutual access, agreed on a regime to restrict the distorting influence of foreign subsidies, and started to discuss the proposal for an anti-coercion tool.
More sustainability EURACTIV
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Indonesia sticking with domestic palm oil sales rules - deputy minister
JAKARTA : Indonesia will retain its domestic sales requirement for palm oil to keep local cooking oil prices affordable, a senior official told Reuters on Monday, noting that a quota for export shipments would be relaxed further.
Palm oil industry participants have sought the removal of the so-called Domestic Market Requirement (DMO) under which exporters must sell a portion of production locally before being granted export permits.
To reduce high palm oil stocks, the government from Monday will allow exporters to ship nine times the amount sold locally under the DMO, up from seven times previously, Septian Hario Seto, a deputy coordinating minister for maritime and investment affairs, said in an interview.
The world's biggest palm oil producer implemented the DMO scheme to ensure local cooking oil supplies after ending a palm oil export ban on May 23.
However, the ban and DMO have created an inventory glut that has slashed prices of palm oil fruit for farmers. Channel News Asia
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Indian Vegetable Oil Producers' Association inks MOU with Malaysian Palm Oil Council
Kuala Lumpur (Malaysia), August 1 (ANI/PNN): Pursuant to the meeting of Minister of Plantation Industries and Commodities, Datuk Zuraida Binti Kamaruddin with the IVPA delegation, at New Delhi, Wan Aishah Wan Hamid, CEO, MPOC, on behalf of Malaysian Palm Oil Council (MPOC) and Sudhakar Desai, President on behalf of Indian Vegetable oil Producers Association (IVPA), signed an MoU to further the cooperation between the two Organizations on 28th July 2022 on the sidelines of MIACES'22 at Kuala Lumpur.
MOU is expected to continue to enhance and expand the co-operation in areas of mutual interest.
The MoU was exchanged in the presence of the Honorable Minister Datuk Zuraida Binti Kamaruddin, in the presence of Larry Sng Wei Shien, Chairman MPOC, Mad Zaidi Mohd Karli, Deputy Secretary General of the Ministry of Plantation Industries and Commodities, Faisal Iqbal, Director, MMD, MPOC, Dr Bhavna Shah, Regional Head, India, Sri Lanka, Nepal & Bangladesh, N P Singh, Second Secretary (Labour), High Commission of India, Vipin Gupta, Vice-President, IVPA and Hemant Bansal, Vice-President, IVPA.
MPOC, having its registered office in Kuala Lumpur, Malaysia, has collaborated with IVPA to promote and create opportunities for the greater acceptance of Malaysian Palm Oil among Indian consumers, food manufacturers and other end users.
MoU is a step toward creating greater awareness of Malaysian Palm Oil benchmarked through the Malaysian Sustainable Palm Oil (MSPO) certification standards, whose objectives include demonstrating sustainability practices within the Malaysian palm oil industry. Big News Network
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Malaysia-Fat of the land: Sime Darby zooms in on plant-based development and wellness products for edible oil portfolio innovation
Edible oils giant Sime Darby believes that the future of the oils and fats industry lies in product innovation for the plant-based and wellness sectors, and has upgraded its research and development to provide both industry and consumers with more of such options. Food Navigator
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TDM to focus on Malaysian operations after stake sale of Indonesian firms
KUALA TERENGGANU: Terengganu subsidiary company TDM Bhd and a minority shareholder yesterday signed a conditional sale and purchase agreement (CSPA) for the disposal of 100 per cent equities in Indonesia-based companies PT Rafi Kamajaya Abadi (RKA) and PT Sawit Rezki Abadi (SRA) to Ikhasas Sawit Sdn Bhd.
TDM executive director Najman Kamaruddin said the CSPAs involved a cash consideration of RM115 million.
"With the significant cost savings and capital generated from the disposal, TDM can focus its resources and attention on the company's operations in Malaysia. This includes initiatives to optimise production from the company's land on the East Coast by diversifying other crop ventures in addition to oil palm plantations and crude palm oil production.
"With the disposal process now going according to plan, TDM is determined to further enhance efforts to create and improve value for stakeholders in the future," he said in a statement today. New Straits Times
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Ghana-Golden Star Oil Palm Plantation receives RSPO Certification
Golden Star Oil Palm Plantation (GSOPP), an alternative livelihood project of Golden Star resources, now a member of the Chifeng Gold Group has chalked a remarkable feat by completing processes, trainings and audits for its smallholder farmers to become certified by the Roundtable on Sustainable Palm oil (RSPO).
The first of its kind in Ghana and second in Africa, this highly coveted certification means that GSOPP smallholder farmers are equipped with best management practices to improve their yields and produce oil palm sustainably and safely according to globally accepted standards.
The RSPO was established to promote the growth and use of sustainable palm oil products through global standards and multi – stakeholder governance.
GSOPP achieved this milestone with support from Solidaridad and United Nations Industrial Development Organisation (UNIDO). Business Ghana
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Nigeria-Palm oil, key to economic prosperity in Niger Delta – Amnesty Progamme
Interim Administrator, Presidential Amnesty Programme in the Niger Delta, Retired Col. Milland Dikio, has challenged youths in the region to exploit opportunities in oil palm business.
Addressing a workshop in Yenagoa, the Bayelsa State capital, organised by a group of ex-agitators working for sustained peace on Saturday, July 30, 2022, Dikio said palm oil now sold more than crude oil globally.
He noted that besides, palm oil was the mainstay of the region’s economy prior to oil discovery in commercial quantity in 1956.
He told representatives of more than 50 youth groups in attendance at the workshop to create the Niger Delta of their dreams, insisting that building a better region was their sole responsibility. Enviro News Nigeria
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Nigeria-Edo to Bridge 20% of Nigeria’s Palm Oil Supply Gap, Says Obaseki
The Edo State Governor, Mr. Godwin Obaseki has said that the state was poised to bridge at least 20 per cent supply gap in Nigeria’s oil palm market with the inflow of investment into the state through the Edo State Oil Palm Programme (ESOPP).
The governor was quoted in a statement to have said this in a chat with the Africa Report, a business magazine. He noted that the state government prioritised development of oil palm plantations because it has a comparative advantage in the cash crop owing from years of hosting two companies listed on the Nigerian Stock Exchange, namely Okomu Plc and Presco Plc.
According to him, “One of my campaign promises was to create jobs. With my background as an investment banker, given the vagaries of the Nigerian economy, it was obvious that we needed to pursue diversification.
“With an increasing population, one way to diversify and create employment was to send out youths back to farm and ensure food security.”
He said the government is prioritising agriculture by ensuring access to land and extension services in order to boost production, adding, “this led to the setting up of the Edo State Oil Palm Programme (ESOPP).” This Day Live
REPORT-State of play in EU trade policy
After a slow year, the EU’s free trade agenda is picking up speed under the Czech EU Council presidency. Nevertheless, more momentum still seems to be on the unilateral trade measures currently being negotiated in the bloc.
In early 2021, the European Commission presented a new trade strategy, arguing for an “open, sustainable, and assertive trade policy.” However, from these three goals, “the openness has been a little bit neglected”, a senior EU diplomat told EURACTIV.
One reason for this is structural. In a geopolitically more tense environment where trade dependencies are levered for political purposes, assertiveness seems more urgent than further opening up.
The other reason was timing, with the French government having blocked any major trade deal ahead of the French presidential and parliamentary elections earlier this year.
That is why member state trade ministers focused on toughening up EU trade policy under the French presidency of the EU Council. They made access to public procurement in the EU dependent on mutual access, agreed on a regime to restrict the distorting influence of foreign subsidies, and started to discuss the proposal for an anti-coercion tool.
More sustainability EURACTIV
--------
Indonesia sticking with domestic palm oil sales rules - deputy minister
JAKARTA : Indonesia will retain its domestic sales requirement for palm oil to keep local cooking oil prices affordable, a senior official told Reuters on Monday, noting that a quota for export shipments would be relaxed further.
Palm oil industry participants have sought the removal of the so-called Domestic Market Requirement (DMO) under which exporters must sell a portion of production locally before being granted export permits.
To reduce high palm oil stocks, the government from Monday will allow exporters to ship nine times the amount sold locally under the DMO, up from seven times previously, Septian Hario Seto, a deputy coordinating minister for maritime and investment affairs, said in an interview.
The world's biggest palm oil producer implemented the DMO scheme to ensure local cooking oil supplies after ending a palm oil export ban on May 23.
However, the ban and DMO have created an inventory glut that has slashed prices of palm oil fruit for farmers. Channel News Asia
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Indian Vegetable Oil Producers' Association inks MOU with Malaysian Palm Oil Council
Kuala Lumpur (Malaysia), August 1 (ANI/PNN): Pursuant to the meeting of Minister of Plantation Industries and Commodities, Datuk Zuraida Binti Kamaruddin with the IVPA delegation, at New Delhi, Wan Aishah Wan Hamid, CEO, MPOC, on behalf of Malaysian Palm Oil Council (MPOC) and Sudhakar Desai, President on behalf of Indian Vegetable oil Producers Association (IVPA), signed an MoU to further the cooperation between the two Organizations on 28th July 2022 on the sidelines of MIACES'22 at Kuala Lumpur.
MOU is expected to continue to enhance and expand the co-operation in areas of mutual interest.
The MoU was exchanged in the presence of the Honorable Minister Datuk Zuraida Binti Kamaruddin, in the presence of Larry Sng Wei Shien, Chairman MPOC, Mad Zaidi Mohd Karli, Deputy Secretary General of the Ministry of Plantation Industries and Commodities, Faisal Iqbal, Director, MMD, MPOC, Dr Bhavna Shah, Regional Head, India, Sri Lanka, Nepal & Bangladesh, N P Singh, Second Secretary (Labour), High Commission of India, Vipin Gupta, Vice-President, IVPA and Hemant Bansal, Vice-President, IVPA.
MPOC, having its registered office in Kuala Lumpur, Malaysia, has collaborated with IVPA to promote and create opportunities for the greater acceptance of Malaysian Palm Oil among Indian consumers, food manufacturers and other end users.
MoU is a step toward creating greater awareness of Malaysian Palm Oil benchmarked through the Malaysian Sustainable Palm Oil (MSPO) certification standards, whose objectives include demonstrating sustainability practices within the Malaysian palm oil industry. Big News Network
--------
Malaysia-Fat of the land: Sime Darby zooms in on plant-based development and wellness products for edible oil portfolio innovation
Edible oils giant Sime Darby believes that the future of the oils and fats industry lies in product innovation for the plant-based and wellness sectors, and has upgraded its research and development to provide both industry and consumers with more of such options. Food Navigator
--------
TDM to focus on Malaysian operations after stake sale of Indonesian firms
KUALA TERENGGANU: Terengganu subsidiary company TDM Bhd and a minority shareholder yesterday signed a conditional sale and purchase agreement (CSPA) for the disposal of 100 per cent equities in Indonesia-based companies PT Rafi Kamajaya Abadi (RKA) and PT Sawit Rezki Abadi (SRA) to Ikhasas Sawit Sdn Bhd.
TDM executive director Najman Kamaruddin said the CSPAs involved a cash consideration of RM115 million.
"With the significant cost savings and capital generated from the disposal, TDM can focus its resources and attention on the company's operations in Malaysia. This includes initiatives to optimise production from the company's land on the East Coast by diversifying other crop ventures in addition to oil palm plantations and crude palm oil production.
"With the disposal process now going according to plan, TDM is determined to further enhance efforts to create and improve value for stakeholders in the future," he said in a statement today. New Straits Times
--------
Ghana-Golden Star Oil Palm Plantation receives RSPO Certification
Golden Star Oil Palm Plantation (GSOPP), an alternative livelihood project of Golden Star resources, now a member of the Chifeng Gold Group has chalked a remarkable feat by completing processes, trainings and audits for its smallholder farmers to become certified by the Roundtable on Sustainable Palm oil (RSPO).
The first of its kind in Ghana and second in Africa, this highly coveted certification means that GSOPP smallholder farmers are equipped with best management practices to improve their yields and produce oil palm sustainably and safely according to globally accepted standards.
The RSPO was established to promote the growth and use of sustainable palm oil products through global standards and multi – stakeholder governance.
GSOPP achieved this milestone with support from Solidaridad and United Nations Industrial Development Organisation (UNIDO). Business Ghana
--------
Nigeria-Palm oil, key to economic prosperity in Niger Delta – Amnesty Progamme
Interim Administrator, Presidential Amnesty Programme in the Niger Delta, Retired Col. Milland Dikio, has challenged youths in the region to exploit opportunities in oil palm business.
Addressing a workshop in Yenagoa, the Bayelsa State capital, organised by a group of ex-agitators working for sustained peace on Saturday, July 30, 2022, Dikio said palm oil now sold more than crude oil globally.
He noted that besides, palm oil was the mainstay of the region’s economy prior to oil discovery in commercial quantity in 1956.
He told representatives of more than 50 youth groups in attendance at the workshop to create the Niger Delta of their dreams, insisting that building a better region was their sole responsibility. Enviro News Nigeria
--------
Nigeria-Edo to Bridge 20% of Nigeria’s Palm Oil Supply Gap, Says Obaseki
The Edo State Governor, Mr. Godwin Obaseki has said that the state was poised to bridge at least 20 per cent supply gap in Nigeria’s oil palm market with the inflow of investment into the state through the Edo State Oil Palm Programme (ESOPP).
The governor was quoted in a statement to have said this in a chat with the Africa Report, a business magazine. He noted that the state government prioritised development of oil palm plantations because it has a comparative advantage in the cash crop owing from years of hosting two companies listed on the Nigerian Stock Exchange, namely Okomu Plc and Presco Plc.
According to him, “One of my campaign promises was to create jobs. With my background as an investment banker, given the vagaries of the Nigerian economy, it was obvious that we needed to pursue diversification.
“With an increasing population, one way to diversify and create employment was to send out youths back to farm and ensure food security.”
He said the government is prioritising agriculture by ensuring access to land and extension services in order to boost production, adding, “this led to the setting up of the Edo State Oil Palm Programme (ESOPP).” This Day Live
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CSPO Watch. Palm oil news August 2022