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Biodiesel Exports May Rise 50% This Year
MALAYSIA - Malaysia’s biodiesel exports are likely to rise to 143,000 tonnes from last year’s 95,013 tonnes due to the downtrend in crude palm oil (CPO) prices, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said.“For the first seven months, biodiesel exports are up 95,249 tonnes. Therefore, for the full year, we would see export figures go up by 50% by year’s end,” he told the Edge Daily.
The news agncy reports that, CPO prices have fallen more than 44% after soaring to a high of RM4,486 a tonne in March this year. As at 1.25pm, the benchmark October delivery was trading at RM2,499 a tonne on Bursa Malaysia Derivatives.
Meanwhile, speaking to reporters on the sidelines of the first International Conference on Oil Palm Biomass here yesterday, Deputy Plantations Industries and Commodities Minister A Kohilan Pillay said both his ministry and the Ministry of Finance had not made a decision on the plantation sector’s request to revise the windfall tax framework.
“To date, there is no decision made on the proposals by the planters,” he said. The Edge Weekly recently reported that the planters had submitted a proposal to both ministries to raise the windfall tax threshold level to RM2,500 from the current RM2,000 a tonne of CPO.
TheBioenergySite News Desk
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