PETALING JAYA: The implementation of higher biodiesel mandate to B7 and the imposition of zero duty on CPO exports from September to December are positive measures to reduce rising palm oil stocks, but they will not drive up crude palm oil (CPO) prices significantly.
Analysts expect the B7 biodiesel (blending of 7% palm methyl ester with 93% diesel fuel) programme would help to boost local biodiesel demand to 448,000 tonnes per year from 155,000 tonnes in 2013, assuming Malaysia’s subsidised transport sector consumes about 6.4 million tonnes of diesel a year.
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