RSPO’s physical palm oil hits record sales in January

A worker collects palm oil fruit inside a palm oil factory in Sepang, outside Kuala Lumpur in this June 18, 2014 file photo. Malaysia is expected to release palm oil export data this week. REUTERS/Samsul Said/Files GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD FEBRUARY 15' FOR ALL IMAGES

KUALA LUMPUR: Sales of physical certified sustainable palm oil (CSPO) have more than doubled, with a 162% surge in sales reported by Roundtable on Sustainable Palm Oil (RSPO) at end-Jan 2016 from a year earlier.

According to the latest data from the RSPO, sales of physical CSPO reported through the three RSPO physical supply chain options - namely Identity Preserved (IP), Segregated (SG) and Mass Balance (MB) - have increased to 448,140 tonnes in the first month of 2016, compared with 170,896 tonnes in the same month last year.

The bulk of the commitment towards CSPO can be seen among SG (57%) and IP (30%).

RSPO’s head of certification, Jan van Driel, said: “Increasing the level of CSPO uptake has been a long-standing challenge for RSPO and its members. With the current record of sales, we are pleased to witness the commitments of stakeholders towards sustainable palm oil translating into action through the increased demand of RSPO CSPO, most of them with a 2020 deadline.”