IOI Loders Croklaan-Unilever signing. Photo provided by Food Marketing Strategies.

IOI Loders Croklaan and Unilever have announced a new global partnership.

IOI Loders Croklaan, a worldwide leading producer and supplier of premium quality oils and fats, is joining forces with Unilever, one of the world’s leading suppliers of food, home and personal care products.

While the main goal of the partnership is to expand the sustainable palm oil market, the two also hope to work together to be more efficient, increase capacity and quality of fats and oils, and support sustainable practices.

IOI Loders Croklaan also is reinforcing its commitment to support Unilever on its bold ambition to double the size of its business while reducing its environmental footprint and increasing positive social impact.

“Innovation in oils is critical and has always been in the heart of our business and remains a main enabler to drive our ambitious global growth targets,” says Julian Veitch, IOI Loders Croklaan ceo. “Together with Unilever we will create value of which both companies will benefit.”

Veitch adds that the company aims to supply 100 percent traceable palm oil by the end of 2014.

Unilever has similar commitments to the environment, including the goal to source all its agricultural raw materials sustainably by 2020. As of 2013, 48 percent of the company’s agricultural raw materials are sustainably sourced, including 100 percent of palm oil. With this new partnership, the two companies hope to work together to move the market in a more environmentally friendly direction.