Malaysia to introduce ‘green’ palm oil standard

palm-oilMalaysia will officially launch its national palm oil standard – the Malaysian Sustainable Palm Oil  (MSPO) – by 2014, Plantation Industries and Commodities Minister Datuk Seri Douglas Unggah Embas said on September 3.

The MSPO branding is expected to enable local palm oil to gain better access in major export markets and attain better premiums in terms of pricing, he added.

The standard will outline criteria that industry players need to meet before their products can be certified as “sustainable”; it also aims to address anti-palm oil sentiment in the European and US markets.

Malaysia’s scheme will be voluntary, but the government plans to make it a compulsory standard for all industry players in stages. The country’s palm oil stocks currently stand at 1.66 million tonnes, having eased 37 per cent from the record 2.63 million tonnes hit at the end of 2012.

Meanwhile, Indonesia, the world’s largest producer of palm oil, will introduce its own mandatory certification system by the end of 2014. The Indonesia Sustainable Palm Oil (ISPO) scheme aims to regulate, audit and examine Indonesian palm oil firms, forcing them to adopt green standards and sustainability policies as the country faces intense international pressure to limit deforestation and destruction of its carbon-rich peatlands.



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Malaysia will officially launch its national palm oil standard - the Malaysian Sustainable Palm Oil  (MSPO) - by 2014, Plantation Industries and Commodities Minister Datuk Seri Douglas Unggah Embas said on September 3. The MSPO branding is expected to enable local palm oil to gain better access in major export markets and attain better premiums in terms of pricing, he added. The standard will outline criteria that industry players need to meet before their products can be certified as "sustainable"; it also aims to address anti-palm oil sentiment in the European and US markets. Malaysia's scheme will be voluntary, but...

palm-oilMalaysia will officially launch its national palm oil standard – the Malaysian Sustainable Palm Oil  (MSPO) – by 2014, Plantation Industries and Commodities Minister Datuk Seri Douglas Unggah Embas said on September 3.

The MSPO branding is expected to enable local palm oil to gain better access in major export markets and attain better premiums in terms of pricing, he added.

The standard will outline criteria that industry players need to meet before their products can be certified as “sustainable”; it also aims to address anti-palm oil sentiment in the European and US markets.

Malaysia’s scheme will be voluntary, but the government plans to make it a compulsory standard for all industry players in stages. The country’s palm oil stocks currently stand at 1.66 million tonnes, having eased 37 per cent from the record 2.63 million tonnes hit at the end of 2012.

Meanwhile, Indonesia, the world’s largest producer of palm oil, will introduce its own mandatory certification system by the end of 2014. The Indonesia Sustainable Palm Oil (ISPO) scheme aims to regulate, audit and examine Indonesian palm oil firms, forcing them to adopt green standards and sustainability policies as the country faces intense international pressure to limit deforestation and destruction of its carbon-rich peatlands.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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