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Global Demand For Sustainable Palm Oil To Grow To Nine Million Tonnes By 2015
Global Demand For Sustainable Palm Oil To Grow To Nine Million Tonnes By 2015
13/11/2013 (Bernama) - The Roundtable on Sustainable Palm Oil (RSPO) has projected the global demand for sustainable palm oil to grow to nine million tonnes by 2015 from five million tonnes currently, said Secretary-General Darrel Webber.
Webber said the projection, translating into 16 per cent of the global consumption, signalled that the world was ready to accept sustainable palm oil at the mainstream.
He said industry players have realised that green initiatives would further intensify in the future, thus leading to their business decision of opting for sustainable palm oil.
"Companies must be prepared for the long-term. Eventually there will be requests only for sustainable palm oil or even sustainably produced commodities," he told a press conference at the Roundtable on Sustainable Palm Oil (RSPO) 11th Annual Roundtable Meeting (RT11) here today.
Webber said the projected demand growth would come not only from Europe given that the RSPO now have members in over 50 countries, indicating heightening interests in sustainable palm oil.
Today, the supply of its Certified Sustainable Palm Oil is at 15 per cent of the total global supply while the RSPO membership is growing beyond 1,300.
Meanwhile, Webber welcomed the initiatives of countries which have come up with their own sustainable certification programme such as the Indonesia Sustainable Palm Oil (ISPO), which was established in 2011, and the Malaysian Sustainable Palm Oil (MSPO) to be rolled out next year.
"Industry players say the RSPO bar was too high but the floor of the industry was too low. Now with these standards, the floor will be lifted, thus making it easier for industry players to reach the RSPO level.
"We think it's a good move by governments and I am glad that the RSPO inspires them to change their policy. In a way, it is good news because it helps us talk about sustainable palm oil," he added.
Webber said the projection, translating into 16 per cent of the global consumption, signalled that the world was ready to accept sustainable palm oil at the mainstream.
He said industry players have realised that green initiatives would further intensify in the future, thus leading to their business decision of opting for sustainable palm oil.
"Companies must be prepared for the long-term. Eventually there will be requests only for sustainable palm oil or even sustainably produced commodities," he told a press conference at the Roundtable on Sustainable Palm Oil (RSPO) 11th Annual Roundtable Meeting (RT11) here today.
Webber said the projected demand growth would come not only from Europe given that the RSPO now have members in over 50 countries, indicating heightening interests in sustainable palm oil.
Today, the supply of its Certified Sustainable Palm Oil is at 15 per cent of the total global supply while the RSPO membership is growing beyond 1,300.
Meanwhile, Webber welcomed the initiatives of countries which have come up with their own sustainable certification programme such as the Indonesia Sustainable Palm Oil (ISPO), which was established in 2011, and the Malaysian Sustainable Palm Oil (MSPO) to be rolled out next year.
"Industry players say the RSPO bar was too high but the floor of the industry was too low. Now with these standards, the floor will be lifted, thus making it easier for industry players to reach the RSPO level.
"We think it's a good move by governments and I am glad that the RSPO inspires them to change their policy. In a way, it is good news because it helps us talk about sustainable palm oil," he added.