Ally Eyeing On Palm Oil & Biofuel Industry

"Malaysian firms well-positioned to be big time players

MALAYSIA is poised to be a significant global player in the production of biofuel, going forward.

Malaysian-German Chamber of Commerce and Industry general manager Thomas Brandt said the potential for Malaysian companies to venture into palm based biodiesel production was tremendous – catering not only for domestic but also for the export market.

He told StarBiz in Kuala Lumpur that palm oil would likely be one of the major components in the production of biodiesel especially with increasing fossil energy prices and the finite nature of fossil resources, which suggested the usage of alternatives and biofuels.

Currently, rapeseed and soybean oils are the two main raw materials for the production of biodiesel in the world.

Today, Germany is the biggest producer and user of biofuels within Europe and has a leading position in the field of biofuel production using rapeseed, soybean and palm oil. Malaysia is the world's largest producer and exporter of palm oil, accounting for 47% of global output and 54% of world exports last year. "

StarBiz
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