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Federal Land Development Authority and its listed 33.7% associate Felda Global Ventures Holdings Bhd has voluntarily withdrawn the RSPO certificates for its palm oil mills, saying the move was done in the best interest of its smallholders.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