Palm oil challenge - Business News | The Star Online


Palm oil challenge

  • Palm Oil
  • Saturday, 14 May 2016

The Roundtable on Sustainable Palm Oil (RSPO) has come under fire by some of the biggest plantation companies, which are also its founding members. IOI Corp Bhd is challenging a decision by the RSPO in Zurich to suspend its sustainable certification, claiming that it did no wrong.

The Federal Land Development Authority and its listed 33.7% associate Felda Global Ventures Holdings Bhd has voluntarily withdrawn the RSPO certificates for its palm oil mills, saying the move was done in the best interest of its smallholders. 

RSPO-certified palm oil is sold at a slight premium compared to uncertified products. Palm oil is the most widely used vegetable oil in the world and is found in an estimated 50% of supermarket products. Nestle, Unilever, ColgatePalmolive, Johnson & Johnson and Kellogg are among the major consumers of palm oil that source their supplies from RSPO-certified producers.

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Palm Oil