GreenPalm, the leading certificate trading programme supporting the production of sustainable palm oil, has reached a new milestone and as a result have reduced their brokerage fees once again. Back in August 2011, the palm oil certificate trading programme, had a brokerage reduction to $1.50. From January 1st 2012 all palm oil certificate trades will carry a reduced brokerage fee of $1 per certificate!
What benefits does this brokerage fee reduction provide? Put simply, it allows for an even more cost effective solution for those supporting sustainable palm oil. One of the biggest barriers to entry for companies to join in and support sustainable palm oil is the cost. With a lower base cost comes an increase in demand. This is great news for sustainable palm oil, as all of us would like to see production be 100% sustainable.
Here’s a rundown of GreenPalm’s brokerage fee history:
- September 2008 – October 2009 $3 fee
- November 2009 – July 2011 $2 fee
- August 2011 – December 2011 $1.5 fee
- January 2012 – Onwards $1 fee
At the end of 2011 GreenPalm & the RSPO also managed to reach another impressive landmark – the 3 millionth certificate, since the trading programme began in September 2008. What does this mean exactly? The RSPO gets $3 million back, which it then puts towards funding work, such as the upcoming independent smallholder project. Also the 3 million tonnes of RSPO certified palm oil which has been sold thanks to GreenPalm, has managed to result in huge premiums of over $20 million back to a range of RSPO certified producers, which averages at around $6.80 per certificate. Impressive numbers!
For more information about GreenPalm and their sustainable palm oil certificate trading programme be sure to visit – http://www.greenpalm.org