Embrace palm oil sustainability via blockchain technology -- Sumwin Group

KUALA LUMPUR, June 25 -- With minimal effort and capitalising on low-cost blockchain technology, stakeholders in the palm oil industry can provide real time digital traceability, Sumwin Group founder and chief executive officer U.R. Unnithan said.

He said this could be a great opportunity, especially for smallholders to embrace sustainability and get adequately remunerated for their efforts.

“This could be a great opportunity for the palm oil industry to demonstrate real time dynamic traceability and visibility, hence, proving that palm oil is indeed produced sustainability and conforms to the “No Deforestation, No Peat, No Exploitation (NDPE) norms and appease European Union (EU) countries and the vocal non-governmental organisations who have been very critical of palm oil’s sustainability.”

Unnithan said this in a slide presentation titled “Challenges & Opportunities for the Palm Oil Industry in the Areas of Biodiesel, Sustainability & Food Safety” released during a seven-day web-based Palm Oil Internet Seminar (Pointers) organised by the Malaysian Palm Oil Council (MPOC) and Bursa Malaysia from June 22-28.

 He therefore encouraged stakeholders in the palm oil industry to adopt Dibiz’s Digital Collaborative platform, a blockchain-powered innovation solution that connected the supply chain.

By having the network effect and data captures, Dibiz can provide value-added benefits incentivising all the stakeholders to collaborate for traceability and be part of the sustainability trading platform.

“Dibiz platform can empower enterprises to accomplish 11 out of 17 United Nations sustainable development goals through industry-wide collaboration,” he added.

Meanwhile, Unnithan said food safety was another area the world has shifted its attention to during this crisis.

He said that the European Food Safety Authority has outlined guidelines for the levels of food contaminants such as 3MCPDE & GE in refined palm oil products at 2.5 & 1 PPM, respectively.

The 3MCPDE (3-monochloro-propanediol esters) and GE (glycidyl esters) are substances that can be found in refined oils and fats.

“Therefore, the palm oil industry has another big opportunity to adapt new locally developed technologies that are cost-effective both from a capital expenditure and operating expense perspective to produce refined palm oil products that can comply with 1.25 & 0.5 PPM limits, respectively.

“This will enable palm oil to be on par or better than other refined vegetable oils and capture a bigger market share because of its superior quality, versatility and price competitiveness,” he said.



    Other News

Sapura Energy founder to pass torch to Mohd Anuar Taib in March

KUALA LUMPUR, Sept 21 -- Oil and gas magnate Tan Sri Shahril Shamsuddin will be retiring from Sapura Energy Bhd next year.

Mega mergers in oil and gas on the card - Analyst

KUALA LUMPUR, Sept 18 -- The impact of the COVID-19 pandemic on the oil and gas industry (o&g), coupled with green agenda activism, could trigger an era of mega-mergers and consolidation among the super majors in the industry, AmInvestment Bank Bhd analyst Alex Goh said.

TNB takes control of one of UK's largest solar platforms

KUALA LUMPUR, Sept 17 -- Tenaga Nasional Bhd’s (TNB) wholly-owned subsidiary, TNB International Sdn Bhd (TNBI) has acquired the controlling equity stake in Vortex Solar Investments S.a.r.l. (Vortex Solar) from Beaufort Investments S.a.r.l, a subsidiary of EFG Hermes Holding SAE.

    Main Sponsor


© 2020 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution

Contact us :
General [ +603-2693 9933, ]
Product/Service Enquiries [ +603-2050 4466, ]