Regional Outlook, Global Perspective

INDONESIA IMPOSES MORATORIUM ON PALM OIL DEVELOPMENT

Indonesia’s president has signed a three-year moratorium on new palm oil development and ordered a review of existing plantations, an official said Thursday, in a blow to an industry blamed for environmental destruction and worker exploitation, Associated Press reports. The move is seen as an attempt to curb supply when Indonesian palm oil is increasingly becoming unwelcome in the European Union and United States given environmental and competitive concerns. In a report released on Wednesday, Greenpeace says a total of 25 palm oil producing groups have destroyed more than 130,000 hectares of natural forest in Indonesia since 2015, nearly twice the size of the island nation of Singapore.

21/09/2018 in Daily Briefs, Indonesia, Regions

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