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Olenex, NBPOL sign deal to supply sustainable palm oil to Europe

FBR Staff Writer Published 24 June 2013

Olenex, a joint venture between ADM and Wilmar International, has signed an agreement with New Britain Palm Oil (NBPOL), to supply ADM and Wilmar with fully traceable, certified sustainable palm oil from NBPOL’s Roundtable on Sustainable Palm Oil (RSPO) certified plantations.

This latest agreement includes supply of sustainable palm oil from NBPOL to Wilmar's Brake facility in Germany, as well as the from NBPOL's refinery in Liverpool to ADM's Pura Food operations in London.

The oil production from these facilities, as well as from ADM's operations in Hamburg, will be marketed and sold by Olenex across Europe.

Olenex management board member Martin Kropp said that the agreement aligns NBPOL's production and shipping capabilities with the downstream processing of Wilmar and ADM, as well as with sales and marketing platform of Olenex.

"As a result, customers can now tap into an incredibly efficient supply chain and a broad range of palm-based ingredients while simultaneously accessing market-leading sustainability credentials,' Kropp said.

The total palm oil market for food in Europe is nearly five million tons per year, including the UK market of 550,000 tons per year. The new long-term agreement increases the overall supply of sustainable palm oil for the UK food market to 350,000 tons per year - nearly 60% of the UK's annual palm oil market for food applications.

Natural environment and fisheries minister Richard Benyon said, "We welcome this initiative which makes it easier for manufacturers to do the right thing. It will help us move towards the target of 100 percent sustainable palm oil in the UK by 2015."