Indonesia and Malaysia, the world’s top two palm oil producers, signed an agreement Saturday to set up a council for palm oil producing countries in a bid to ensure price stability by managing production and stock in the global market.
Palm oil is found in practically every household product. Companies can actually turn a good profit from conserving land used to produce the ingredient.
Home products giant IKEA has made a time-bound commitment for eliminating palm oil linked to deforestation and human rights abuses from its supply chain.
The Malaysian state should play a more active role in supporting the transition toward less environmentally destructive palm oil production, says a coalition of Malaysian NGO’s.
Unlike other palm oil giants that have recently made strong commitments to eliminating deforestation and social conflict from their supply chains, Malaysia-based Kuala Lumpur Kepong continues to source palm oil associated with forest destruction and community conflict, argues a new report published by the Rainforest Action Network.