Palm industry seeks biofuel subsidies for 2019 Budget

Malaysian palm oil futures fell to a three-week low on Thursday on concerns that demand could take a hit from a European Union move towards banning the use of palm oil in biofuels.

KUALA LUMPUR: The Primary Industries received proposals from industry for govt to allocate funds for biodiesel subsidies for 2019 budget, according to minister Teresa Kok.

Ministry also received proposals on incentives for rubber smallholders to boost their incomes and for replanting activity, Kok tells reporters in Putrajaya after consultation with
industry stakeholders.

Proposals also included those on mechanisation, automation, bio-gas and sustainability

Ministry will compile proposals and forward them to finance ministry for consideration during tabulation of upcoming budget. - Bloomberg