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Household names nix Malaysian palm oil company

IOI, one of Malaysia’s largest conglomerates, has been shut out by international household names in food and consumer goods over the environmental cost of its palm oil production.

SINGAPORE -- Malaysia's second-largest plantation company by market capitalization is being dropped as a supplier to such major multinationals as Unilever, Kellogg, and Mars after being stripped of its status as a sustainable producer of palm oil.

     The suspension of IOI by the Roundtable on Sustainable Palm Oil, an industry regulatory association, followed complaints a year ago by environmental activists that three subsidiaries in Indonesia had cleared land without permits and beyond permissible boundaries.

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