The $44 billion palm oil industry, under pressure in Europe after authorities listed the edible oil as a cancer risk, has found a vocal ally in the food sector: the maker of Nutella. Any move away from palm oil would also have economic implications as it is the cheapest vegetable oil, costing around $800 a ton, compared with $845 for sunflower oil and $920 for rapeseed oil, another possible substitute. ENVIRONMENT CONCERNSEFSA's 284-page study comes on top of environmental concerns that have dogged the palm oil industry for several years. Several firms using the ingredient, including Ferrero, say they buy palm oil certified by the Roundtable on Sustainable Palm Oil, which works with producers to reduce the negative impacts of cultivation on the environment. "It is good that Ferrero has clarified that the palm oil they use is safe and sustainable," said Yusof Basiron, chief executive of the Malaysian Palm Oil Council.
Source:Egypt Independent January 11, 2017 13:41 UTC