GreenPalm makes a healthy start to the New Year
I trust 2010 has begun well for you. GreenPalm has got off to a very bright start, with more than 80,000 certificates already traded since the beginning of January.
It is encouraging to see the market establish itself so well as we enter a year in which we expect an ever-greater focus on sustainable palm oil in the media and among consumers.
Recent trading brings the total number of certificates traded to 340,000, earning more than $3m for producers who are using certified sustainable methods to produce palm products.
I’m happy to say I can now report that we have an established price for palm kernel oil for the 2009 market. Trading on the underlying market has earned a price of $7.50 for GreenPalm certificates to cover use of palm kernel oil, a keen price as customers become more aware of availability and trades are now backed by increasing volume. We’re expecting this particular market to become stronger in 2010, making this a good time to get involved.
While activity for the new year swiftly gathers pace, don’t forget trade for 2009 certificates is still active. These cover sustainable palm oil produced in 2009, and while the price is lower and represent good value, their true worth is the reward producers receive for their commitment to ethical production.
The deadline for trading in 2009 certificates is 31st March 2010, so why not take advantage of the lower prices now to cover your palm oil use?
I hope to have more news to share with you soon. Until then, thank you for your support to date and please keep visiting www.greenpalm.org or call me on 01482 332013 if you have any questions.