Unilever Cuts Palm Oil Supplier Ties

LONDON: Unilever, the world’s largest user of palm oil, has suspended purchases of edible oil from Indonesian group Sinar Mas on concerns over rainforest destruction. Unilever, which uses palm oil in such products as Dove soap, Ben & Jerry ice-cream, and margarines like Stork, cancelled its annual £20mil contract with Sinar Mas after a critical report by environmental group Greenpeace. “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 director John Sauven said in a statement. Unilever consumes around 1.3 million tonnes of palm oil each year and has pledged to buy only from certified sustainable plantations from 2015. Around 90% of worldwide supply comes from Indonesia and Malaysia. – Reuters Source: The Star

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