Group president and chief executive officer Datuk Zakaria Arshad said the YangambiGT1 was the first palm oil seed in Malaysia with tolerant capabilities against Ganoderma fungal attacks.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) expects a minimum 40% increase in the local biodiesel demand following the Government’s new mandate.
Group president and CEO Datuk Zakaria Arshad said the government’s decision to introduce the usage of biodiesel B7 to the industrial sector and upgrading from B7 to B10 for the transportation sector was seen as a “catalyst for the revival of the nation’s biodiesel industry”.
“Currently, the biodiesel industry is not competitive due to the low price of world crude oil and high dependency on government mandate to increase its demand.
With the implementation of both new mandates, FGV is expecting a minimum 40% increase in the local biodiesel demand,” Zakaria said in a statement.
He added that the increase in biodiesel consumption would reduce crude palm oil (CPO) dumping and this will help stabilise prices for the long-term.
Since 2015, FGV has implemented the consumption of B30 for internal usage in stages as an effort to increase the sustainability of its operations and to prove the potential of biodiesel as sustainable fuel alternative.
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