Drop in palm oil prices hurting UMNO Coffers


margeemar |
[...] Sime Darby Biodiesel Sdn Bhd is responsible for the production of palm biodiesel in Malaysia and its distribution overseas. As we all know, Sime Darby is a GLC which of course has links to Umno cronies.Two plants in Selangor, are currently placed under its purview, one in Carey Island and another in Teluk Panglima Garang. The plant in Carey Island has an annual capacity of 60,000 tonnes while the one in Teluk Panglima Garang has an annual capacity of 30,000 tonnes. Unfortunately, things have turned for the worse for Sime Darby after a ruling from the German government.

It appears that BIODIESEL producers in Malaysia will not be able to achieve the 200,000 tonnes export target because of a recent German ruling. Germany is the world's biggest biodiesel producer and consumer. Since 2006, Malaysia has been shipping the bulk of its palm oil-based biodiesel to Germany. the German government announced that biodiesel derived from soya and palm oils will be eliminated from its list of qualified biofuels.[read more]

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