Malaysia will be compelled to reevaluate options on trade with France if the country keeps its stand on palm biofuels, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. He said this following the recent announcement by the French Minister of Environment, Nicholas Hulot, who suggested for measures be taken to restrict the use of palm oil in biofuels, to reduce deforestation in the countries of origin. “This has put pressure on the palm oil industry as well as the producer. “I believe that for trade between Malaysia and France to stay strong and grow, such attacks against the palm oil industry must stop,” he told reporters after officiating the Transfer of Technology Seminar and Exhibition 2017 in Bangi on Tuesday. Mah said the statement by the French Minister was largely misplaced, given that more than 65% of current European rapeseed oil production had been diverted for use as biofuels and other renewable energy associated applications. (Source: The Star)

Source: UOB Kay Hian Research - 12 Jul 2017