The coconut industry in the Federated States of Micronesia is looking to rejuvenate itself with a focus on biofuels. "And really our main objectives are number one, create this socioeconomic opportunity across the value chain, particularly at the outer island level, and number two, build a strategy that will be attractive to outside investors to help us achieve that sustainability over time," said Olivier Wortel of Vital-FSM PetroCorp.
China has the sixth-largest national allotment of land used for genetically modified farming, according to a report by the International Service for the Acquisition of Agri-Biotech Applications. "The soybean oil sold in China is mostly made from GM soybeans imported from overseas. Why are we letting other countries make money from us, instead of doing it ourselves?" said Fang Zhouzi, a chemical biology expert.
Indonesian exports of palm and kernel oil fell to 1.87 million metric tons in January, a 1.4% decline from a month earlier. Sales to India and the EU increased, but exports to China dropped by 15%, according to the Indonesian Palm Oil Association.
U.S. production of high-oleic acid soybean oil is expected to increase 20 times over by 2017 from this year's levels, according to a discussion paper that seeks a Codex standard for the oil. Colombia and Argentina are pursuing such standards for high-oleic palm oil and sunflower oil, respectively.
Dunkin' Brands will set a timetable for ensuring all of its palm oil comes from sustainable sources or is offset by purchasing certificates, the company said. New York state Comptroller Thomas DiNapoli, in response, withdrew a shareholder resolution requesting that the company consider how palm-oil production affects society and the environment.