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palm oil prices stay high despite mounting supplies
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crude palm oil production is up 4.4 per cent from october in malaysia, according to the malaysian palm oil board, but this has not led to a fall in prices amid the current volatility of the crude and soya oil markets. the total output of crude palm oil (cpo) totalled 1.65m tonnes in november, compared to 1.58m tonnes in october. meanwhile, cpo stocks shot up 25 per cent to 976,589 tonnes as the amount of imports far exceeded the quantity at exports, with exports decreasing by 7.8 per cent and imports dramatically increasing by 402.5 per cent, impacting on palm oil costs. the total palm oil stock, including processed oil, increased 16 per cent to 1.81m tonnes. however, the price of cpo per tonne averaged 31.62m ringgit (€6.5m), an increase of 6.57 per cent from the previous month. the cost further increased last month following a five week low, which had resulted from large fluctuations in the crude and soya oil markets. palm oil is a form of vegetable oil obtained from the fruit of the oil palm tree. it has become increasingly popular for use in food and cosmetic products, but is also now used as a biofuel as an alternative to expensive and damaging fossil fuels. malaysian palm oil futures depend largely on the crude and soya oil markets, with strong crude oil prices fuelling a demand for palm oil, which can be used as a biofuel. the cost of crude oil reached a record $100 a barrel in november, but has since dropped again below $88 a barrel. the maintained high prices of palm oil is a classic example of the increased demand for biofuels having a knock-on effect on the food ingredients market and, in turn, pushing up food prices. however large food companies are thought to be amongst those opting for palm oil in place of fossil fuels as they consider it a greener alternative to conventional petrol and diesel. but according to greenpeace, it is having the opposite effect. last month, the environment charity released a report that named the contribution major food companies are making to increased carbon emissions through the destruction of indonesia's peat swamp forests to produce palm oil. every year, 1.8bn tones of greenhouse gas emissions are released by the degradation and burning of indonesia's peatlands, the report said. indonesia is the world's second largest palm oil producer, after malaysia.
Source :Food Ingredients Food Science - Additives, Flavours, Starch
Date :
10
December
2007
Category :
food industries Economic
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major food companies are contributing to increased carbon emissions through the destruction of indonesia's peat swamp forests to produce palm oil, claims a report released today. unilever, nestle, cargill and adm, as well as some leading supermarkets, are all significant users of indonesian palm oil, alleges the greenpeace report. every year, 1.
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a new process for producing palm oil seeds which researchers claim has the potential to triple crop yield and address both sustainability and supply issues is expected to become commercially available within 10 years. sumatra bioscience has announced that it has developed the first process to produce f1 oil palm hybrid seeds. the term f1 refers to the first-generation offspring of two closely related plants.
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political decisions encouraging biofuel production from palm oil is causing deforestation in indonesia and not the low tonnage sourced by kit kat maker nestlé, according to the chairman of the swiss based food company. in reply to a question from a greenpeace representative about deforestation at nestlé’s annual general meeting in lausanne, the food group’s chairman peter brabeck-letmathe claimed that it is not nestlé’s 320,000 tonnes of palm oil that brought about deforestation in asia but a political decision to use food as a source for biofuels.
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browse > home / world news / unilever drops palm oil supplier over “deforestation” claims unilever drops palm oil supplier over “deforestation” claims december 14, 2009 just-food a greenpeace report claiming that a major supplier of palm oil to unilever is engaged in illegal deforestation has prompted the company to suspend all future purchases from the company.
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more research is urgently needed on the biodiversity impact of palm oil production, says a new report, as food and other consumer goods manufacturers make sustainable sourcing a priority. palm oil, a major source of vegetable oils and fat, is derived from the tropical crop oil palm, which is cultivated in lowland areas of south america, africa and asia. the two biggest producers are malaysia and indonesia.
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asian palm oil company is planning a flotation on aim this month, according to reports, in a bid to cash in on the increasing international demand for the edible oil. the company, owned by dennis melka, former head of csfb in malaysia and plantation director graeme brown, will make the initial public offering of £45m (€61m) on the london stock exchange's international market for smaller companies.
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according to nbpol, this single acquisition increases the company\'s established plantation area by nearly 50%, and is comprised of estates close to the company\'s current center of operations.nbpol revealed, on february 24, 2010, about the planned acquisition of ctp png for a consideration of $175m payable in cash, plus an additional consideration in relation to stocks and capital expenditure.the palm oil producer said that completion of the ctp png acquisition was contingent upon entering into a $200m 12-month facility with standard chartered bank and australia and new zealand banking group, and approval by ordinary resolution of the company\'s shareholders.
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unlever has halted all purchases of palm oil from indonesian company pt smart after a greenpeace report alleged that its parent group sinar mas is engaged in widespread illegal deforestation and peatland clearance in indonesia. according to the pressure group’s report, illegal forest clearance and rspo (round table on sustainable palm oil) greenwash: case studies of sinar mas, the company is “…engaging in practices which release vast amounts of carbon dioxide into the atmosphere and help indonesia win the title of the world’s third largest greenhouse gas emitter, after china and the us.
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the roundtable on sustainable palm oil (rspo) says it is on the cusp of delivering on its promise to put sustainable oil on the market, and will be unveiling its certification system at its next meeting in november. palm oil is used in a range of personal care products and soap, as well as in many food products including crisps, bread and margarine. however the palm oil industry has been heavily criticised, since production is contributing to rapid deforestation, especially in indonesia, and endangering native species.
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Coca.Cola
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PEPSI
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Mcdonald
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Nestle
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Mars
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Baskin & Robins
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Nutrika
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Mumika
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Chika
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