Analysts negative on FGV’s decision to withdraw RSPO certification

PETALING JAYA: Analysts are negative about the withdrawal of the Roundtable on Sustainable Palm Oil principles and criteria certificates (RSPO and P&C) of 58 palm oil mills throughout Malaysia by Felda Global Ventures Holdings Bhd (FGV) and Felda.

Although the exercise does not affect Felda Group’s RSPO Supply Chain Certification System (SCCS) certificate of its kernel crushing plants and downstream refineries, BIMB Research is of the view that there is still a potential premium sales losses from its inability to supply certified palm oil.