GreenPalm has reported a record trade of palm kernel oil (PKO) certificates during the month of October 2013.
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November saw a further record broken by the sustainable palm oil certificate-trading programme, with unprecedented figures for the number of palm oil certificates sold.
GreenPalm allows manufacturers to off-set their palm oil, PKO and palm kernel expeller (PKE) use by buying GreenPalm certificates representing an equivalent volume that has been produced in line with Roundtable on Sustainable Palm Oil (RSPO) principles and criteria.
During October 416,852 certificates worth $4.4 million were sold on GreenPalm’s trading system, of which a record 125,781 were PKO certificates. In November 717,431 certificates worth $3.2 million were traded, of which a record 667,982 were for palm oil.
The growth in the volume of PKO certificate sales, along with a significant increase in the premium buyers are paying for each PKO certificate, is also largely responsible for the GreenPalm’s significant improvement in premiums paid to RSPO-certified growers.
With a month still to go before the end of the year, GreenPalm has traded palm oil, PKO and PKE certificates worth $15.3 million – a rise of 25.4% on 2012 figures.
Bob Norman of GreenPalm said: “This month has seen unprecedented levels of trading, particularly in PKO certificates. Our figures to date illustrate the fact that manufacturers and retailers are taking palm sustainability seriously and are keen to support growers directly.”
