09 May 2011 10:27 [Source: ICIS news]
SINGAPORE (ICIS)--New Britain Palm Oil Ltd (NBPOL) and Wilmar International have agreed to supply Continental Europe with fully segregated sustainable palm oil from NBPOL’s plantations in Papua New Guinea and the Solomon Islands by the middle of next year, the two companies said on Monday.
In an NBPOL statement that Wilmar issued to the Singapore Exchange, it said the two companies have agreed to set up an integrated supply chain and joint marketing arrangement towards this end.
Palm oil supply will be sourced from NBPOL’s Roundtable on Sustainable Palm Oil (RSPO) certified plantations, the statement said.
“The palm oil will be available from Wilmar’s refinery in Brake, Germany in a whole range of products in 100% segregated sustainable format from mid-2012,” the statement said.
Wilmar’s Brake refinery has about 700,000 tonnes/year of capacity, of which 300,000 tonnes/year will be dedicated to palm oil supplied from NBPOL’s estates, the statement said.
“This agreement ensures that fully segregated, traceable and certified sustainable and affordable palm oil will be made available in enough product specifications and formats that food manufacturers throughout Europe will no longer need to buy palm oil offset certificates,” said NBPOL executive director, Alan Chaytor.
Continental Europe’s palm oil market is approximately 5m tonnes/year, NBPOL said. Palm oil is used in one in 10 food products, including bread, crackers, chips, margarine and cereals, as well as personal care and beauty products such as soap and lipstick.
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