ECONOMY

Palm oil provides a substantial contribution to the European economy. Palm oil is part of a complex supply chain used in the production of a wide variety of products across major European industries like BASF, Ferrero and Tesco, and throughout small and medium sized enterprises across the EU.

The Malaysian Palm Oil Council commissioned the European economics consultancy Europe Economics to definitely establish the value of palm oil to the European economy, jobs and investment, and tax revenues.

Key facts:

  • Palm oil is associated with a contribution to EU GDP of €2.7bn in downstream industries and €5.8bn including the impact of a resulting rise in demand;
  • Palm oil is associated with a contribution to tax revenues of €1.2bn in downstream industries and €2.6bn including the impact of a resulting rise in demand;
  • Palm oil is associated with 67,000 jobs in downstream industries and 117,000 jobs including the impact of a resulting rise in demand.

View the full Europe Economics study here: http://www.europe-economics.com/publications/europe_economics_-_economic_impact_of_palm_oil_imports.pdf

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EU ECONOMY