12/08/2009 (Mercuria.com) - Mercuria Energy is proud to announce that the company has been accepted as a new member of the Roundtable on Sustainable Palm Oil (RSPO), an organization dedicated to promoting sustainable production of palm oil worldwide.

The RSPO was established in 2004, with the aim of establishing global standards for sustainable palm oil production, and promoting the use of products containing sustainable palm oil. Each member undertakes to follow its code of conduct. The RSPO certifies whether palm oil is produced and shipped according to its criteria. A grievance panel supervises compliance.

Its 340 members include palm growers, oil processors, traders, retailers and NGOs.

According to the RSPO, about forty million tons of palm oil are produced each year. The organization’s goal is to dramatically reduce environmental damage caused by unsustainable palm oil production.

The effort received a major boost in November of 2008 when senior officials at the China Chamber of Commerce announced their support. China is currently the world’s largest importer of palm oil.

Through its integrated biodiesel/vegoil/diesel desk, Mercuria Energy is active in biofuel blending and trading.