By Star Online: Business
20 November 2012
IN France, the attacks against palm oil have lately come in two major forms the “Sans Huile de Palme” (palm oil free in French) logos now prominently stamped on many food cartons and the “Nutella Tax” which will see a 400% increase in tax imposed on palm oil.
Even though the tax amendment, which was approved by the French senate last week, is still up for consideration by the French lower house, the National Assembly, if it is approved, the tax for palm oil would jump to 400 euros per tonne from the current 100 euros.
Nutella is Europe's favourite breakfast chocolate and hazelnut spread with some 235,000 tonnes produced annually by Italian company Ferrero of the Ferrero Rocher chocolates fame. In France alone, it is believed about 100 million jars of Nutella are consumed yearly.
So, why is Nutella currently being singled out by several French politicans, retail chains and Western NGOs? Some quarters said it was purely due to palm oil, which makes up about 20% of Nutella's total ingredients.