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Nikkei Markets

Malaysia bets on biofuel projects to spur palm oil demand

Aims to lift local palm oil use by 1.3 million tons annually from 2020

Share prices of Malaysian palm oil producers rose after the government announced it is pressing ahead with biodiesel programs. (Getty Images)

KUALA LUMPUR (Nikkei Markets) -- Malaysia is aiming for domestic annual demand of crude palm oil to rise by 1.3 million tons in 2020 as it presses ahead with biodiesel programs in the transport and industrial sectors, the federal plantation minister said Tuesday.

"By increasing the blending percentage from B10 to B20, and also rolling out the B10 for industrial diesel use, we anticipate that the uptake of CPO to increase to 1.3 million tons per annum," Teresa Kok said at a palm oil forum in the administrative capital Putrajaya.

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