FGV gets RSPO certification for eight mill complexes
04/01/2018 (The Star Online) - PETALING JAYA: Felda Global Ventures
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Bhd (FGV) is expected to earn premiums for its certified sustainable palm oil (CSPO) products from the first quarter of 2018, following the Roundtable Sustainable Palm Oil (RSPO) certification for its eight mill complexes at the end of last year.
The certified eight mill complexes are expected to produce over 200,000 tonnes of CSPO and almost 60,000 tonnes of certified sustainable palm kernel oil.
FGV, which is the second largest Malaysian palm oil refiner, aims to certify its 70 palm oil mills complexes under RSPO and the Malaysian Sustainable Palm Oil (MSPO) by the end of 2021.
In a statement, FGV group president and chief executive officer Datuk Zakaria Arshad said that the company will be able to access markets in the European Union and North America, following the recent RSPO certification.
“This is indeed a good start to the year, thanks to the committed workforce in FGV who have embraced our transformative sustainability programme that we embarked on in May 2016.
“In 2018, we aim to certify another eight mill complexes by March and more than 30 mill complexes will have been audited by RSPO and MSPO by the end of December,” he added.
To recap, the plantation giant has voluntarily withdrawn the RSPO certificates of its 58 mills throughout Malaysia in May 3, 2016.
This was following several labour and social issues along its supply chain that needed to be addressed.
It was reported that approximately RM34.5mil will be required to obtain RSPO certification for FGV’s all 70 mills nationwide.
The Main Market-listed FGV closed five sen higher at RM1.86 yesterday, with 38.05 million shares changing hands.