×
314
Fashion Jobs
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TAKSHAKA INTERIORS
Req. Production Manager/Executive -Wood Furniture
Permanent · Gurugram
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
SKYNET OUTSOURCING SERVICES
Production Manager Api Industries-Bharuch,Ankelshwar Location
Permanent · Bharuch
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
NIKE
Senior Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
RANDSTAD
Area Sales Manager
Permanent · Gurugram
3F INDUSTRIES
Technologist/Production Manager For Our Amino Acid Plant
Permanent · Chennai
By
Reuters
Published
Oct 4, 2007
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Green campaign dents palm oil demand

By
Reuters
Published
Oct 4, 2007

By Naveen Thukral

KUALA LUMPUR (Reuters) - A campaign by environment groups against palm oil is costing the product market share in Europe, a top Malaysian palm oil industry official said on Monday.

Palm oil, used as food and in products ranging from cosmetics to biofuel, has come under fire from environmentalists in Europe and America who say the rapid expansion in palm cultivation is responsible for vanishing tropical forests and wildlife.

"Trade will take note if negative campaigns are launched against a particular commodity, especially if it creates a lot of uncertainty," said Yusof Basiron, chief executive of industry-funded Malaysian Palm Oil Council.

"When you bash a product then some people will stay away from it and when you reduce demand, obviously the price tends to weaken."

Scientists have warned biofuels are likely to speed up global warming as they have encouraged farmers to burn tropical forests that have absorbed a large portion of greenhouse gases.

Greenpeace says Indonesia had the fastest pace of deforestation in the world between 2000-2005, with an area of forest equivalent to 300 soccer pitches destroyed every hour.

Yusof said oil palm cultivation is not responsible for the destruction of rainforests.

"We grow our oil palm on legitimate agricultural land just like soybean and rapeseed are grown on legitimate agricultural land," he told Reuters in an interview.

But conservationists are not convinced.

Friends of the Earth says almost 90 percent of orangutan habitat has now disappeared and if the destruction continues, Asia's only great ape could become extinct in 12 years.

The group questions U.K. supermarkets selling palm oil on their corporate social responsibility, and has urged that financiers screen future investments in plantations for adverse environmental affects.

Palm plantations now cover more than 4 million hectares in Malaysia, and firms are expanding fast in neighboring Indonesia where it is grown on some 6 million hectares.

TRADE BARRIER

Official data shows European palm oil imports from Malaysia fell 17.5 percent to 1.32 million tones between January and August this year compared with a year ago period. Over the same period Malaysia's total palm exports fell 4.5 percent to 5.15 million tones.

"If palm oil exports to Europe are going to be subjected to very stringent sustainability certification while other oilseeds coming from tropical areas are not subjected to such certification then there will be a trade distortion," said Yusof, who is leading a fight to defend the palm oil industry.

"This will create a trade barrier of some sort."

Palm oil, produced mainly in Malaysia and Indonesia, has almost doubled in price since January 2006, but still sells at a $60 discount to soybean oil and around a $300 discount to rapeseed oil.

On Monday, the benchmark December contract KPOZ7 on the Bursa Malaysia Derivatives Exchange was quoted at 2,641 ringgit ($779) a ton, just 4 percent shy of an historic high reached in June.

Yusof blamed bad publicity for the discount on palm oil.

"If there is no real reduction in consumption or there is substantial increase in off take, obviously the price discount that we see now will not be there."

© Thomson Reuters 2023 All rights reserved.