A palm oil company, a group of US financiers, and the destruction of Peru's rainforest [Business Insider]
Unilever PLC (UL)
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Source: Business Insider
From above, the surrounding landscape looks like stirred paint: a swirl of green amid inky lakes and brown rivers. Tibecocha, the larger of the two plantations, appears to have been etched into the jungle with a ruler and a straight razor. Its rectangular grid of roads extends over almost 8 miles and contains a million palm trees. The smaller property, Zanja Seca, is nearly the size of Manhattan. Each year, these plantations generate about $50 million in revenue for the Ocho Sur group, whose palm oil has ended up in products ranging from Cheetos to Colgate toothpaste. The $160 million that the company's backers, primarily US venture capitalists and private equity funds, have spent on its operations represents the largest foreign investment in agriculture in the history of the Peruvian Amazon. The palm industry got off the ground here thanks to US development programs designed to give farmers a money-making alternative to growing coca plants, the precursor to cocaine, and the US am
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