On 19 September 2018 the President of the Republic of Indonesia has issued Presidential Instruction No. 8 of 2018 concerning Moratorium and Evaluation of Licensing for Oil Palm Plantations and Increasing Productivity of Oil Palm Plantations ("Inpres 8/2018"). The issuance of the Inpres regulates the central and regional government agencies to re-evaluate the regional release permit and delay the opening of new oil palm plantations.
PT Sawit Sumbermas Sarana Tbk (SSMS) supports the Presidential Instruction regarding delays and evaluations of permits and increased productivity of oil palm plantations. SSMS views this Inpres as the right action to encourage a more sustainable industry to maximize the potential of oil palm for Indonesia.
In the company's business growth strategy, SSMS has since 2016 focused on acquiring plantations that are already operating instead of opening new land. So this Presidential Instruction concerning the land moratorium does not change the company's strategic plan. Of course in carrying out this strategy we will continue to refer to the SSMS sustainability policy that we updated last year, and has been recognized by the RSPO and ISPO.
The Inpres 8/2018 can be downloaded here.
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