Palm kernel expeller now covered by GreenPalm
GreenPalm has made some changes, which are expected to make it even simpler for businesses to support sustainable production of palm oil and other palm products. Now, those who buy or use palm kernel expeller (PKE) can off-set their use with GreenPalm, and a change to the yield-based rule for all certificates is also about to come into effect.
Palm kernel expeller, the meal that remains when oil has been extracted from the palm kernel, has a high fibre content that makes it a valuable protein-based feed for cattle and other animals. However, obtaining a segregated sustainable supply of PKE is not straightforward. Now, businesses using or buying PKE can off-set their use by buying GreenPalm certificates representing an equivalent amount – enabling them to give direct, meaningful support to PKE producers and mills working within the rules of the Roundtable on Sustainable Palm Oil (RSPO).
The PKE market will be viewable . If you’d like to know more about GreenPalm and PKE, please email me or call me on +44 (0) 1482 332013.
New rule for buying GreenPalm certificates
A new rule for certificates registered for 2011 will simplify trading and make the process more straightforward for end users.
Certificates that apply to 2011 can be bought to cover only a refined volume of palm oil or palm kernel oil. Currently, certificates must represent the required volume of crude palm oil from which the refined material will be produced – meaning the buyer pays for more certificates than the material used.
For example, to represent 100 tonnes of refined palm oil, the certificate buyer must purchase enough certificates to fund 106 tonnes of crude palm oil – with the loss of six tonnes’ worth of certificate funds. Now, that buyer need purchase certificates only for 100 tonnes – or whichever volume is required.
The new rule is designed to be simpler for end users and to avoid confusion, and is expected to help stimulate demand. For 2010 certificates, the current yield-based rule still applies.
Updated membership rules can be found here and updated brokerage terms and conditions here.
Next stop – RT8, Jakarta
From November 8 to 11, we’ll be at the latest annual conference of the Roundtable on Sustainable Palm Oil, which this year is being held at Jakarta, Indonesia.
While there, we’ll be announcing the new rule and the palm kernel expeller opportunities, as well as calling on manufacturers and retailers around the world to take urgent steps to help make positive change in the palm oil industry.
It’s been a terrific year for GreenPalm, hitting a major milestone with the trade of a million certificates, but we still have a very long way to go. Thank you to everyone who has shown support so far, and please continue to lead by example and spread the word about sustainable palm oil.
Earlier this week we issued a call to action for businesses to help support the work of the Roundtable on Sustainable Palm Oil – read the story here.
At the time of writing, the RSPO had reported that 3,253,188 tonnes of certified sustainable palm oil had been produced this year to date. Congratulations to the latest grower to become certified – Keresa Plantations of Malaysia – bringing the total to 21 growers and 75 mills now RSPO-certified as working sustainably.
Please continue to contact me with any questions or comments. Your feedback is very valuable.
General Manager, GreenPalm