Increasing Palm Oil Price Helps In The Conservation Of Endangered Tigers, Study Says

Increasing prices for palm oil can help save endangered species, such as the Sumatran tigers, according to new research. Scientists have found that people will pay more for palm oil if they knew that part of the money goes to the conservation of the species.

Large portions of tropical forests have already been claimed by palm oil manufacturing companies, which resulted to the destruction of the animals’ habitat. The palm oil plantations pose great threat to the survival of some of the rarest species in the world, including rhinos, elephants and orangutans.

However, researchers from the U.K. and North America have discovered that a lot of consumers are willing to pay from 15 to 56 percent more to get palm oil manufactured by companies who also observe conservation efforts for the endangered species.

For the published study found in the Proceedings of the National Academy of Sciences, researchers analysed the finances of big palm oil corporations to see how land conservation can affect their profits. They studied prices set by companies who put extra charge on “conservation grade” palm oil, which is made by those who share a portion of the profit to fund conservation programs.

The researchers conducted experiments in supermarkets and it was revealed that the “extra charge” on conservation grade palm oil has greatly made up for the costs incurred in developing a land for conservation. "We wanted to find a new way of halting biodiversity loss that actually becomes profitable for private companies," said lead author of the study, Ian Bateman, in a report from Nature World News. Study co-author Brendan Fisher also said in his statement that the study aims to show the need for industries and scientists to work together in finding “win-win solutions”.

About 50 percent of supermarkets sell palm oil. The vegetable oil is considered cheap and can now be found in processed foods, like cakes and margarine, and cosmetic products like lipstick, soap and shampoo, according to The Independent.

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