OSAKA -- Japan's Fuji Oil Holdings group is teaming up with a Malaysian company to make palm oil products that comply with international standards in order to allay consumer concerns over environmental and social problems rampant in the industry.
The Fuji Oil group and palm oil producer United Plantations will create a 50-50 joint venture. This venture will build a factory with an annual output of 70,000 tons, one of the world's largest for high-end palm oil that addresses environmental and human rights concerns. Fuji Oil will put up 800 million yen ($7.17 million) while its Singaporean subsidiary invests 4 billion yen to construct the plant.
