Why Indians might find it difficult to cut down on their palm oil demand?
The global palm oil trade and industry are in turmoil over major FMCG companies’ plans to reduce palm oil consumption, citing concerns over price volatility and the environment. The Asian Palm Oil Alliance (APOA), representing palm oil-consuming countries, criticized this decision, highlighting its impact on millions of livelihoods dependent on palm oil. The alliance countered claims of palm oil’s excessive price volatility, arguing that prices reflect standard market dynamics of supply and demand.
The global palm oil trade and industry are up in arms against the decision of some major FMCG companies to reduce their palm oil consumption, citing price volatility and environmental concerns.
Recently, the Asian Palm Oil Alliance (APOA), a not-for-profit alliance of palm oil-consuming countries, stated that the move by major FMCG companies is unwelcome and disturbing, as millions of farmers depend on palm oil for their livelihood.
The Alliance also disputed claims that palm oil prices are more volatile than other oils, asserting that prices are a function of demand and supply.
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