Tuesday, 18 February 2014

Wilmar Pressure On Sarawak Oil Palm

Wilmar had said it planned to stop buying CPO produced from oil palm trees planted in forest areas and peat swamp land in Sarawak from 2016.

The analysts, quoted in The Star, said 72% of 1.6million ha of peat swamp in Sarawak were planted with oil palm trees while The Edge Malaysia according to Bernama saying 90607.3ha of the 1.6million ha planted with oil palm trees. So, whose figures is right?

Wilmar is not the only buyer but is the biggest buyer in Sarawak, 10 over years in there taking 45% of the CPO produced by 41 mills in the state. 

I like this quote..."If we are not allowed to plant in those two areas, then there will be no oil palm planted in Sarawak," Masing was quoted as saying. "We have no areas where there are no forest... if you want to plant oil palm where there is no forest, you will have to go to the Sahara Desert because there is no forest there." 

Wilmar, however, rejected the report. "It is not true that Wilmar will no longer buy palm oil from Sarawak," Wilmar told mongabay.com via email. 

Read more HERE at mongabay.com since it provided a very good article for CPO Futures trading general knowledge.