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Consumers willing to pay sharp premium for wildlife-friendly palm oil, claims study

June 18, 2015

Consumers willing to pay sharp premium for wildlife-friendly palm oil, claims study

Mongabay.com
Thursday 18 June 2015

Shoppers may be willing to pay a 15 to 56 per cent premium for palm oil produced without the destruction endangered species’ habitat, asserts a study published today in the Proceedings of the National Academy of Sciences.

The research, conducted by an international team of scientists led by Ian Bateman of the University of East Anglia, is based on consumer surveys and analysis of the cost of conserving wildlife habitat within oil palm concessions in Sumatra.

It found that the cost of conserving critical habitat could be more than offset by the price premium shoppers claim they would be willing pay for wildlife-friendly palm oil.

“Consumers’ willingness to pay for sustainably grown palm oil has the potential to incentivize private producers enough to engage in conservation activities. This would support vulnerable ‘Red List’ species,” said Bateman in a statement.

Read more at Eco-Business.

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