Jakarta (ANTARA News/Asia Pulse) - Indonesian and Malaysian CPO (crude palm oil) producers are cooperating and both countries have signed a memorandum of understanding to take on a negative campaign that could hinder developement of the industry.

Officials said that Indonesia and Malaysia are the world's biggest palm oil producers, contributing 85 per cent of the world's CPO production and if united are capable of becoming a price determinator but according to both parties the CPO industry is currently facing a negative campaign from NGOs which claim that it is damaging forests.

They hope an independent institution can be set up to assess, in case of a negative report from a NGO, whether a company has conducted an unsustainble palm oil industrial development.


Source:
Business in Asia Today - March.8, 2010
published by Asia Pulse

Editor: Ricka
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