Malaysian producers of palm oil-based biodiesel will seek new incentives from their government after Indonesian makers of the biofuel were promised an increase in subsidies to counter the impact of lower energy costs.
Any move by Malaysian authorities to encourage biodiesel consumption could fuel another rally in Bursa palm futures , which jumped 9 percent last week after Jakarta said it would boost subsidies for biodiesel nearly threefold.
Representatives of Malaysia’s biodiesel industry will meet the plantation industries and commodities minister Douglas Uggah Embas in Putrajaya on Thursday to discuss what could be done to help the ailing sector.
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