3F Industries commits to sustainable palm
India-headed edible oils, fats and oleochemical major 3F Industries Ltd has begun acting upon its sustainable palm oil commitment having completed the company's first purchase of Roundtable on Sustainable Palm Oil (RSPO) certified palm oil products.
One of India’s prominent multinational corporations in the edible oils import and production sector, 3F Industries via wholly owned subsidiaries and joint ventures is currently operating in more than 10 countries, importing, producing, and processing 200 000 tonnes of palm oil products annually. A member of RSPO since 2014, the company has recently completed its first announced purchase of 1 100 tonnes of RSPO certified palm oil products.
According to RSPO India representative Kamal Prakash Seth, 3F Industries shared its vision to promote, popularise, and encourage the use of RSPO certified palm oil with their clients.
3F Industries Ltd has pledged to procure certified sustainable palm oil and its derivatives. They are also proactively creating awareness about sustainable palm oil among Indian businesses and consumers. They are promoting a shared vision for sustainable palm oil through various channels such as their website, brochures, and even through a message on their invoices to clients. With practical measures like this, Indian businesses can lead the way and play an active role in meeting the global goals for sustainable development, said Kamal.
The company operates an 800 tonne per day (TPD) edible oil refinery and a 250 TPD oleochemical manufacturing plant integrated with a crude palm oil (CPO) refining unit at Krishnapatnam. In addition, the company via its subsidiary 3F Oil Palm Agrotech Pvt Ltd (3FOP) has over 50 000 ha of oil palm plantations in production and/or under development in India along with processing mills and biomass power plants.
Overseas, 3FOP operates an oil palm investment vehicle out of Singapore and in 2012 it signed an agreement with the Government of Suriname for the establishment of a 40 000 ha integrated oil palm plantation and processing facility that was to include a nursery, mill, refinery and captive power plant.
In 2016, the company revealed plans to invest US$200 million in developing an integrated oil palm plantation and processing facility in Gabon. The Gabonese government is in the process of allotting 40 000 ha of suitable land for oil palm development along with several “favourable monetary and fiscal policies” for the success of the project. The project will consist of an oil palm nursery, development of oil palm plantations, CPO and palm kernel oil (PKO) mills, palm oil refinery, and palm-waste based power plant.
Today, there is an ever-urgent need and growing global concern for commodities to be produced without causing harm to the environment or society. It is essential that natural assets are nurtured while fostering economic growth. We need to work together to improve the economic and social well-being of our local community for a better tomorrow, said Sushil Goenka, Director and CEO, 3F Industries Ltd.