KUALA LUMPUR (Dec 2): Malaysian palm oil giant IOI Group said it will abandon some 430 hectares (1,060 acres) of land in Indonesia, in part settlement of a dispute over allegations of illegal deforestation and planting. Palm oil is the most widely used edible oil in the world, found in everything from margarine to cookies and soap. In 2015, Aidenvironment filed a complaint to the RSPO against IOI Group over claims the planter had illegally chopped down rainforests in Indonesia and planted palm crops on peatland. Aidenvironment said in the statement issued on Thursday that it had raised all other matters with IOI for perusal, and had no further standing issues with plantation company. IOI Group had its certificates of sustainability suspended by the RSPO in April, but the suspension was lifted just four months later, sparking criticism from environmental and consumer groups alike.

Source: The Edge Markets December 02, 2016 05:08 UTC