Very interesting discovery, I was just asking that question why only late 90s we see this shit and not before that.
It is interesting to know that GAR is founded in 1996 and listed here in 1999.
GAR was taken to task by the international community. it has since reformed somewhat. but who knows for sure.
http://www.ft.com/intl/cms/s/0/82d2d6e2-e33f-11e0-bb55-00144feabdc0.html#axzz2WoxdnQtU
Golden Agri scheme gains traction
By Kevin Brown in Singapore
Palm oil producer’s certification drive pays off, writes Kevin Brown
layed by environmentalists, denounced by animal lovers and abandoned by western consumer products groups, Indonesia’s Golden Agri-Resources ought to be on its knees. So why is the country’s biggest palm oil producer by sales achieving soaring sales and record profits?
Singapore-listed Golden Agri looked in serious trouble in mid-2010 as western consumer products groups such as Nestlé, Unilever, Burger King and Kraft Foods stopped buying its palm oil products, worried by a clamorous boycott campaign by Greenpeace, the environmental activist group.
Greenpeace pulled no punches, producing a series of hard hitting reports on the group, which it refers to by the trade name Sinar Mas. The content is complex and disputed, but the argument is clear: Golden Agri destroys virgin forest, releases trapped carbon and threatens rare animal habitat.
Faced with this pressure, Nestlé and other western companies quickly bowed to Greenpeace’s boycott demands.
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Golden Agri and other palm oil producers are benefiting from a historic run-up in prices that has changed the economics of the industry. With crude palm oil trading in Kuala Lumpur at about M$3,064 ($992) a tonne on Tuesday the plantation groups are making nearly M$2,000 a tonne more than their costs of production – an awfully big margin
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