Sales of certified sustainable palm oil for the first quarter of 2014 hit a record with a 49 percent increase over a year ago by one measure and 54 percent by another.
According to the Roundtable on Sustainable Palm Oil (RSPO), sales of palm oil reported in the eTrace system through identity preserved (IP), segregated (SG) and mass balance (MB) supply chains have increased to 506,586 metric tons in the first quarter, compared with 340,668 metric tons in the same period last year.
Meanwhile, GreenPalm Certificates recorded sales of 853,338 metric tons for the first quarter of the year, up 54 percent from 555,906 metric tons in the same period last year. GreenPalm trading during the month of March has also resulted in a record of total premiums back to RSPO certified growers of $6.6 million.
Transparency, disclosure, clarity and efficiency in the physical trading of CSPO and its fractions along the supply chain are increasingly important for all stakeholders and thus for effective sector change, the organizations report.