KUALA LUMPUR: The implementation of the B10 Biodiesel programme will continue to give positive impact on palm oil prices, with consumption of the country’s palm oil expected to increase by up to 800,000 tonnes by the end of this year, the Dewan Negara was told today.
Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin (pix) said the country’s palm oil stock earlier this year exceeded seven million tonnes but was now down to 2.4 million tonnes.
“This is a positive development. This will affect the management of palm oil stock and when we manage this stock well, it will affect the price,“ he said during the question–and–answer session.
The B10 Biodiesel, a blend of 10% palm oil and 90% diesel, has been made mandatory for the transport sector since Feb 1 this year.
He said this when answering a supplementary question from Senator Datuk Seri Ti Lian Ker on the effectiveness of the programme in improving the country’s palm oil industry.
Shamsul Iskandar said the government would continue to intensify its efforts to help palm oil producers obtain the Malaysian Sustainable Palm Oil (MSPO) certification to raise the profile of the crop in the global market, including providing a special fund for that purpose. — Bernama
