Grappling with attack on issues from deforestation to labour exploitation, and the violation of indigenous people’s rights, palm oil companies have been investing heavily in technology to boost their sustainability credentials.
However, smallholders produce 40% of the world’s palm oil – Without engaging them with the tools, the impact and effectiveness of technologies are restricted.
Palm oil buyers are increasingly demanding their oil to come from non-deforested or burned land. How can block chain technology be applied to tackle traceability which is one of the industry’s biggest challenges? Any possible ban on palm oil use in Asia could hit palm oil growers and consumer goods companies hard given the scale of the market as it consists of the top four palm oil consumers – India, Indonesia, China and Malaysia – accounting nearly 43% of consumption by volume in 2017.
CMT’s 11th Sustainable Oil Palm Summit to be held on 12-13 Sept 2019 at Jakarta, Indonesia will update on the key highlights of this important development.