A year of progress in sustainable palm oil
As we head towards the end of 2010, will we see sustainable palm oil production hit the 3.5million tonne mark? At the time of writing, the Roundtable on Sustainable Palm Oil reports that 3,433,845 tonnes of certified sustainable palm oil have been produced to date.
The number of sustainable growers and mills continues to grow, too, with 22 growers and 80 mills now audited and certified by the RSPO.
These figures give us plenty of reasons to be optimistic about the future, as they represent major steps towards making the palm oil industry more responsible, ethical and sustainable.
This has also been the year that GreenPalm traded its millionth certificate, which marked an exciting milestone for us and sent the world a clear signal about the importance of supporting sustainable palm oil producers.
New rules for 2011
Please remember that we start the new year with some changes to GreenPalm rules.
End users will no longer have to take yield into account when planning their purchase of GreenPalm certificates that apply to 2011 claims.
Systems have been simplified into a one-for-one approach, which means buyers must now purchase certificates to cover only the refined volume of palm oil or palm kernel oil. We hope this change will further increase demand.
For certificates covering 2010 supplies, the current rules will still apply.
In addition, palm kernel expeller is now covered by GreenPalm and this is an area we’re expecting to see grow quite rapidly in 2011. Offers are now being made and you can see these in the Market area of our website here.
Buying for the future?
While GreenPalm certificates for palm oil currently have a very favourable price for end users, we’ve been asked if buyers can stock up now and use them to cover the palm oil they plan to buy in 2011.
The simple answer is no. Certificates bought in 2010 must apply to palm oil bought in 2010. Only certificates issued in 2011 will be applicable to palm oil bought in the same year.
If you would like more information about this, please contact me.
Finally, thank you for your continuing support of GreenPalm and sustainable palm oil production. Together, we’ve made some important progress this year. With best wishes for the festive season and the new year,