India, Indonesia to Promote Sustainable Palm Oil

India and Indonesia have signed a memorandum of understanding (MoU) which, for the first time, recognises the Indonesian Sustainable Palm Oil (ISPO) and the Indian Palm Oil Sustainability (IPOS) frameworks as legitimate sustainability efforts. The MoU was signed last month between the Solvent Extractors Association of India (SEA), the Indonesian Palm Oil Board and supply chain development organisation Solidaridad.

The organisation expected the cooperation agreement to lead to joint promotion of IPOS and ISPO certified sustainable palm oil in Indian, Indonesian and other markets. Atul Chaturvedi, president of SEA and director of Adani Group, said the MoU would “lead the way for long-term sustainability of the palm oil sector” by reducing barriers and facilitating enhanced production and trade. The MoU signatories also said they wanted to further strengthen the cooperation between palm oil producers in the Indonesian West Kalimantan province and Indian palm oil buyers.