Higher biodiesel usage is an important factor behind improving CPO prices in 2016, as CPO is the main raw material for biodiesel.
KUALA LUMPUR: Malaysia and Indonesia are working hard to protect the livelihood of those in the palm oil industry whose future is now uncertain following the European Parliament’s decision to phase out palm oil based biofuels by 2020.
The decision will impact Malaysia, as the European countries import RM10bil palm oil products annually followed by India and China.
