BASF develops certified palm oil products, chemical giant aims to commercialize sustainable palm products on a global scale
Category: #world  By Saipriya Iyer  Date: 2017-06-13
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BASF develops certified palm oil products, chemical giant aims to commercialize sustainable palm products on a global scale

BASF SE, the renowned German corporation operating in global chemicals market, has strengthened its operations portfolio for certified palm products, with a view to increase its overall valuation across numerous professional domains. The global petrochemicals market player is heavily involved in the manufacture of detergents, cosmetics, and cleaning agents, each one of which encompasses palm oil as one of the key ingredients. Adhering to this fact, the company apparently, already produces certified ingredients in more than 20 locations across the globe, for the cosmetic and cleaning sectors. Now, with an aim to increase its production capacity, BASF has included its factories at Dahej, India, and Gebze, Turkey as well, in the production network. These factory sites have already received the Supply Chain Certificate of the RSPO (Roundtable on Sustainable Palm Oil). This announcement was brought to fruition on RSPO’s fifth European Roundtable held annually at London.

BASF, having accumulated a fair share of global oilfield chemicals market, is of the view that sustainable production of palm oil is very much possible, which has apparently formed the crux of its decision to expand the manufacturing capacity of certified palm products. The company’s officials believe that the authenticity of a certification system is likely to lead to transparency within and outside of the organization, which may eventually help to protect the environment and minimize carbon emissions.

Palm kernel oil and its derivatives are extensively used in the manufacture of cleanings, cosmetics, and detergents, all of which are produced on a very large scale by BASF, annually, pertaining to which the company has taken a decision to get the palm oil ingredients certified. In Europe alone, BASF’s personal care sector offers around 120 palm oil kernel products, which have been RSPO certified. Experts state that as BASF comes up with a huge portfolio of certified ingredients, it will be able to help its consumers contribute directly toward the market growth.

The year 2016 witnessed BASF almost doubling its sales of certified palm kernel based ingredients. All in all, it has been reported that the firm processed more than 500,000 tons of palm-based raw products. The company primarily aims to achieve complete sustainability, owing to which it has been advocating the use of sustainable palm oil products in the development of cosmetics, cleaners, and the like. Every year, more than 70 million tons of palm products are manufactured across the globe. Approximately 10% of this amount includes palm kernel oil based products, which amounts to around 7 million tons in terms of volume. As per reliable statistics, of this number, only 1.3 million tons are certified by the RSPO, as of now. This is another key factor that has possibly driven BASF to achieve complete sustainability as regards to the manufacture of palm oil based products.

For the record, BASF is also a member of the RSPO since the year 2004 and a member of the High Carbon Stock Steering Group since 2016 to encourage industry activities that contribute to environment conservation. And now, with factory sites in India and Turkey, the company aims to get all its palm kernel oil based products certified by the RSPO, so as to encourage sustainability across the globe.



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Saipriya Iyer

Email: saipriya.l@news.marketsizeforecasters.com   

Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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