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... he said olam, in which singapore state investor temasek holdings holds a stake of about 14 percent, plans to develop between 50,000 and 100,000 hectares of palm oil plantations in africa ... palm oil plans olam's plan to develop palm oil plantations in africa comes as indonesia, the world's largest palm oil producer, seeks to impose a moratorium on forest clearing, which might slow the aggressive expansion of plantation firms ... top palm oil companies in the region, including wilmar international, the world's largest palm oil firm, and golden agri, have said that they are also looking to expand the edible oil business to africa ... verghese said the venture into sugar and palm oil was likely to take place after 2011

... following a financing deal signed with norway last week, the southeast asian country plans to revoke existing forestry licenses held by palm oil and timber firms to save its vast rainforests and peat lands that are seen as a carbon sink ... 1 palm oil producer from achieving its 40 million output target by 2020 ... "that target would be achievable if oil palm estates expanded at a rate of 200,000-300,000 hectares a year but not with this ... we will need to boost productivity," derom bangun, vice-chairman of the indonesian palm oil board (ipob) told reuters in an interview ... industry and government data show that palm oil acreage in indonesia now hovers around 7 ... palm oil production is expected to grow 8 ... 6 million tonnes as more oil palms planted during the surge in acreage expansion come into maturity, bangun said ... unlike malaysia, oil palms are spread all over the archipelago so the effects of el nino are not so severe," he said ... rival malaysia, the second largest palm oil producer, may well miss its 18 ... 1 million palm oil production target as el nino-driven drier weather hit key growing regions of sabah and sarawak on borneo island

... political decisions encouraging biofuel production from palm oil is causing deforestation in indonesia and not the low tonnage sourced by kit kat maker nestlé, according to the chairman of the swiss based food company ... in reply to a question from a greenpeace representative about deforestation at nestlé’s annual general meeting in lausanne, the food group’s chairman peter brabeck-letmathe claimed that it is not nestlé’s 320,000 tonnes of palm oil that brought about deforestation in asia but a political decision to use food as a source for biofuels ... and he claims that almost 500,000 tonnes of palm oil was used in britain and germany alone for lower emissions biofuels for cars ... at the agm, brabeck called for a moratorium on tropical deforestation and he stressed that nestlé was making progress reduction of palm oil in its products ... greenpeace activists had abseiled into the lausanne agm and, dressed as orang-utans, also handed out leaflets outside of the conference centre, claiming nestlé is still using palm oil in some of its chocolate bars sourced from crops planted after vast tracts of asian rainforests had been cleared ... supply concerns last month, the swiss food group announced it was dropping indonesia company, sinar mas, the world’s largest palm oil producer from its supply chain, but this was three months after anglo-dutch multinational unilever had publically cut ties with the same supplier over deforestation claims ... however, last week greenpeace said that the nestlé was still buying palm oil indirectly from sinar mas through suppliers such as commodities group, cargill

... browse > home / world news / unilever drops palm oil supplier over “deforestation” claims unilever drops palm oil supplier over “deforestation” claims december 14, 2009 just-food a greenpeace report claiming that a major supplier of palm oil to unilever is engaged in illegal deforestation has prompted the company to suspend all future purchases from the company ... in a statement released today (11 december), unilever said that it would not buy palm oil from indonesia’s pt smart, part of the sinar mas group, until they provide “verifiable proof” that none of their plantations are contributing to the deforestation of “high conservation value” forests and expanding onto peat land ... earlier this year, unilever commissioned an independent audit of its major palm oil suppliers, which revealed “several areas of concern” relating to the practices of a number of palm oil suppliers ... therefore, we have notified pt smart that we have no choice but to suspend our future purchasing of palm oil,” he revealed ... “unilever’s decision could represent a defining moment for the palm oil industry ... what we’re seeing here is the world’s largest buyer of palm oil using its financial muscle to sanction suppliers who are destroying rainforests and clearing peatlands,” greenpeace executive director john sauven said ... ” greenpeace revealed that a number of food companies, such as nestle, kraft foods and procter & gamble use palm oil supplied by sinar mas in household products including kitkat, philadelphia and pringles ... sinar mas is indonesia’s largest palm oil producer and the second-largest globally

... crude palm oil production is up 4 ... 4 per cent from october in malaysia, according to the malaysian palm oil board, but this has not led to a fall in prices amid the current volatility of the crude and soya oil markets ... the total output of crude palm oil (cpo) totalled 1 ... 5 per cent, impacting on palm oil costs ... the total palm oil stock, including processed oil, increased 16 per cent to 1 ... the cost further increased last month following a five week low, which had resulted from large fluctuations in the crude and soya oil markets ... palm oil is a form of vegetable oil obtained from the fruit of the oil palm tree ... malaysian palm oil futures depend largely on the crude and soya oil markets, with strong crude oil prices fuelling a demand for palm oil, which can be used as a biofuel ... the cost of crude oil reached a record $100 a barrel in november, but has since dropped again below $88 a barrel ... the maintained high prices of palm oil is a classic example of the increased demand for biofuels having a knock-on effect on the food ingredients market and, in turn, pushing up food prices ... however large food companies are thought to be amongst those opting for palm oil in place of fossil fuels as they consider it a greener alternative to conventional petrol and diesel ... last month, the environment charity released a report that named the contribution major food companies are making to increased carbon emissions through the destruction of indonesia's peat swamp forests to produce palm oil ... indonesia is the world's second largest palm oil producer, after malaysia