FGV sets precedent with withdrawal from RSPO cert

Premium denied: Workers unloading palm fruit bunches at FGV’s mill in Perak. The withdrawal of RSPO certification for 58 out of 71 of its palm oil mills in Malaysia will deny the FGV Group from gaining the CSPO premium, which is about US25 (RM98) per tonne.

PETALING JAYA: Top planter Felda Global Ventures Holdings Bhd (FGV) has set a precedent with its recent withdrawal from the Roundtable on Sustainable Palm Oil (RSPO) certifications for its 58 palm oil mills nationwide.

This is the first time a member of the multi-stakeholder RSPO grouping – the world’s first palm oil certification body – is seeking a voluntary suspension for RSPO certifications.