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In order to promote Sustainable Palm Oil Production & Trade, the Solvent Extractors' Association of India (SEA) has inked an agreement with the Indonesian Palm Oil Board (DMSI) and Solidaridad Network Asia Limited (SNAL) at Jakarta in Indonesia recently.
A memorandum of understanding (MoU) was signed on July 16 2018, during a visit of high level delegation from SEA to Jakarta recently.
SEA president Atul Chaturvedi signed the MoU in the presence of the Indonesian Coordinating Minister for Economic Affairs, Darmin Nasution.
It is expected that such a cooperation would lead to joint promotion of Indonesian Sustainable Palm Oil (ISPO) and the Indian Palm Oil Sustainability (IPOS) aligned sustainable palm oil in India, Indonesia and other markets through awareness creation amongst all stakeholders including consumers.
The MoU recognises for the first time ISPO and the IPOS as legitimate sustainability framework for palm oil production and trade between both the countries.
Nasution expressed hope on a cooperation between SEA-DMSI-SNAL, which will be able to strengthen the relationship and take forward the discussion on continued growth of palm oil and its derivatives.
Commenting on the MoU signing, Chaturvedi said, "The MoU would lead the way for long term sustainability of palm oil sector in the region by reducing barriers and facilitating enhanced production and trade of sustainable palm oil."
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