RSPO’s physical palm oil hits record sales in January - Business News | The Star Online

ADVERTISEMENT

RSPO’s physical palm oil hits record sales in January


  • Palm Oil
  • Monday, 29 Feb 2016

CSPO sales reported by Roundtable on Sustainable Palm Oil surged 162% at end-Jan 2016 from a year earlier. This 2014 Reuters file photo shows a worker collecting palm oil fruit inside a palm oil factory in Sepang.

CSPO sales reported by Roundtable on Sustainable Palm Oil surged 162% at end-Jan 2016 from a year earlier. This 2014 Reuters file photo shows a worker collecting palm oil fruit inside a palm oil factory in Sepang.

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.”

ADVERTISEMENT