Palm oil price revival depends on biodiesel scheme

It is envisaged that some 500,000 tonnes of palm oil annually would be taken up from the palm oil stockpile for B5 biodiesel that will be used in the Government

GOING into the second half of the year, many quarters are anticipating the country’s steep palm oil stocks can be reduced considerably – thanks to the nationwide implementation of the B5 biodiesel programme that takes effect this month.

It is envisaged that some 500,000 tonnes of palm oil annually would be taken up from the palm oil stockpile for B5 biodiesel that will be used in the Government’s subsidised and non-subsidised sectors.