M’sian experts to join EU panel on indirect land use change

Malaysian palm oil futures jumped by more than 1 percent to its highest in nearly a month on Tuesday, extending gains into a third session on strength in related edible oils and earlier weakness in the ringgit.

KUALA LUMPUR: Malaysia has agreed to nominate experts to sit on the European Commission's Expert Panel on Indirect Land Use Change (ILUC) that could impact the future use of palm oil as part of the biofuel mix within the European Renewable Energy Directive (RED) II.

Primary Industries Minister Teresa Kok said the initiative by the European Commission would allow cross consultation with palm oil producers, including Malaysian palm oil experts, on various key scientific principles under ILUC.