The Jakarta Post
The government will impose a moratorium on new oil palm plantation licenses in the near future on the back of weakening global demand for palm oil as well as massive deforestation fueled by the overexpansion of oil palm plantations in the world’s top palm oil producer.
Peatland Restoration Agency (BRG) head Nazir Foead said the plan had been discussed by the Office of the Coordinating Economic Minister since last year.
“Because the global price of CPO [crude palm oil] is falling anyway due to weakening demand. All vegetable oil prices are falling because when prices skyrocketed five years ago, everyone planted [oil palm trees],” he said on the sidelines of the third Singapore Dialogue on Sustainable World Resources.
Furthermore, based on the office’s calculation, the country can meet its target of producing 40 million tons of CPO by 2020 sustainably without e...