Singapore-based Indonesia palm oil exporter grapples with EU regulation

JAKARTA — Musim Mas, a Singapore-based exporter of Indonesian palm oil, faces “a giant problem” over the European Union’s new deforestation regulation, which is able to notably impression the nation’s small particular person farmers, an organization government informed Nikkei Asia.

The landmark regulation requires importers of commodities akin to palm oil, espresso and cocoa to generate a due diligence assertion proving their merchandise don’t come from deforested land or have led to forest degradation. Below the regulation, merchants and different organizations promoting merchandise within the EU may have till late 2024 to conform. Micro and small enterprises, nevertheless, are exempt from the due diligence guidelines till mid-2025.