Nine new members from China join palm oil group

Source:Global Times Published: 2016/7/14 21:58:00

Nine companies from China have joined the Roundtable Sustainable Palm Oil (RSPO) body so far this year, including major sustainable palm oil importer Sinograin Oils Corp, taking the membership from China to 52, according to a note the RSPO sent to the Global Times on Thursday.

The RSPO said China is the world's second-largest importer and third-largest consumer of palm oil. In the past two years, the average import volume of palm oil was around 6 million tons. The expected annual growth of demand for palm oil in China is 10 percent, meaning that by 2020 the demand for palm oil in China is expected to reach 12 million tons.

Stefano Savi, global outreach and engagement director of the RSPO, said in a note that the RSPO hopes to attract more stakeholders and achieve the goal of 10 percent market uptake in China by 2020.

The RSPO's global membership has grown by 15 percent since 2015 and now stands at 2,945.

The organization was established in 2004 with the objective of promoting the growth and use of sustainable oil palm products via credible global standards.

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