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To promote sustainable practices in the palm oil industry, FGV Holdings Bhd has signed a strategic collaboration with Malaysian Sustainable Palm Oil (MSPO) to promote the latter's certification label on its Saji cooking oil products.
The agreement aims to endorse the MSPO label on Saji products while raising awareness about sustainability efforts in the country's palm oil sector.
FGV Holdings Bhd chairman Tan Sri Rastam Mohd Isa said he took pride in collaborating with MSPO and becoming the first company to use the MSPO certification logo on Saji cooking oil labels.
"We are confident that this effort will open up new market opportunities domestically and internationally, including enhancing consumer confidence.
"This initiative aligns with our commitment to ensuring sustainability practices are applied across every aspect of our group's operations to generate value and benefit stakeholders.
"At FGV, we believe that prioritizing sustainability will lead to profitability and company growth," he said at the launch of the Saji cooking oil's new label with the MSPO certification logo at AEON BiG in Wangsa Maju, here, on Saturday.
The launch was attended by Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.
FGV Holding Bhd group chief sustainability officer Nurul Hasanah Ahamed Hassain Malim said the addition of the MSPO logo on Saji cooking oil packaging will benefit FGV by boosting consumer trust, accessing eco-conscious markets and demonstrating compliance with MSPO standards.
"This certification enhances FGV's reputation as a leading global producer of crude palm oil (CPO), showcasing its commitment to sustainability through various certifications like the Roundtable on Sustainable Palm Oil, International Sustainability and Carbon Certification and Green Gold Label.
"These efforts position FGV uniquely in global trade, particularly in sustainability-focused markets."
MSPO chairman Dr Suzana Idayu Wati Osman emphasized the significance of addressing key issues such as human rights, environmental protection, wildlife conservation and business advancement within the palm oil industry.
"With FGV's prominent position in the industry and its vital role in supporting socio-economic development, particularly for smallholder palm oil farmers, the collaboration between MSPO and FGV takes on added importance in promoting MSPO's certification to international markets," he added.
Last year, Saji led the local cooking oil market with a 45 per cent share and was awarded the 'Top Brand with the Highest Increase in Buyers in 2022' by the Kantar Worldpanel.
Saji cooking oil and other palm-based products from FGV are also exported to Myanmar, Afghanistan, Barbados, Cambodia, Chile, Djibouti, Kazakhstan, Lebanon, Nigeria, Senegal, Thailand and Togo, with exports totaling 84,000 metric tonnes and valued at RM376 million last year.
As the world's largest producer of CPO, FGV is also the largest buyer of fresh fruit bunches from local smallholders and Felda settlers.
FGV goes beyond financial support, extending its sustainability commitment to nationwide development programmes for Felda settlers through consultation and training.
Since 2020, it has invested RM4.05 million to engage 1,000 smallholders in this initiative.
Source: www.nst.com.my