Palm | Kelapa Sawit

KUALA LUMPUR, Nov 3 (Reuters) - Malaysia's state plantation agency has backed off from plans to develop up to 100,000 hectares of oil palms in Brazil, sources with knowledge of the matter told Reuters on Tuesday.
Last year, the Federal Land Development Authority (FELDA) announced a joint venture with a Brazilian planter to grow oil palms near the Amazon river, a move green groups criticised as speeding up deforestation and climate change.
Malaysian and Brazilian sources say FELDA has now abandoned the plan after quietly putting the venture on hold five months ago, a major setback to its aim to become a global commodity player.