login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Indonesia''s Palm Oil Plantation Size Surpasses Estimates

1 Apr 2024 8:40 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

New findings from Indonesian land mapping authorities reveal a much larger expanse of palm oil plantations than previously realized, totaling 17.3 million hectares (42.7 million acres). This updated figure significantly exceeds earlier estimates, which were 16.8 hectares found in the 2022 audit. It highlights ongoing challenges in tracking and regulating the nation's largest palm oil industry.

The recent survey is part of the Indonesian government's focus on improving transparency within the sector. Efforts like an industry-wide audit were implemented following a cooking oil shortage two years ago, which underscored issues with data management and governance within the palm oil trade. Palm oil is a vital component of the Indonesian economy. Used in a dazzling array of products worldwide, from foods to cosmetics to biofuels, Indonesia is both the largest producer and consumer of palm oil. However, the industry's rapid expansion has been heavily criticized by environmental groups. Large-scale conversion of rainforests and peatlands in Indonesia for palm oil plantations is a significant driver of deforestation. This practice leads to biodiversity loss, increased greenhouse gas emissions, and endangered species like the orangutan. The Indonesian government faces immense pressure to balance the economic benefits of the palm oil industry with the pressing need for sustainable practices to protect the country's unique biodiversity and combat climate change. While progress is being made towards improving data collection and oversight, critics argue that more decisive action is needed to curb destructive practices within the industry.

       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Market Commentary
Veg Oil Duty Calculation ( Tariff ) - 1 May 2024
CBOT CLOSE:30-April-2024
Pressure Mounts on Castor Prices in Gujarat Due to Surg...
Groundnut Prices Remain Steady Amid Decline in Groundnu...
COCONUT PRICES : 30 APRIL 2024
more
Top 5 News
ICE raw sugar futures fall on strong dollar, rain chanc...
ICE cotton futures fall on firm dollar, lower crude oil...
CBOT wheat futures gain as dry weather in US, Russia de...
Crude oil skids for a third straight session as U.S. cr...
Gold trades near 4week low, Fed meet in focus
Top 5 Special Reports
Mumbai Pigeon Pea Tur (Lemon) Positive Short-term Tren...
Jaipur Mustard Seed Trending Lower / Next Support at R...
Mustard Cake (Jaipur) Correction Underway / Next Suppo...
Kabuli Chana (Indore) Bearish Trend / Next Support at ...
Weekly: ICE cotton futures extend decline; little suppo...
Copyright © CC Commodity Info Services LLP. All rights reserved.