Minister of Primary Industries Teresa Kok says it gives Malaysia more time to prepare for the eventual removal.
“It allows more room for us as a palm oil-producing country to prepare ourselves for the removal of the incentives on the biofuel and prepare for the future,” she said. The move aims to provide an adequate transition period for French companies to prepare to move away from using palm oil as a biofuel.The report stated that the move could benefit French oil company Total, which has invested €300 million euros to convert its La Mede site from a crude oil refinery into a biofuel plant, starting output in July.Although this postponement is temporary, Malaysia views the move positively, Malaysian Palm Oil Council chief executive officer Kalyana Sundram said.
Last month, the ministry secretary-general Tan Yew Chong led the ministry, Malaysian Palm Oil Board and MPOC delegation for a bilateral meeting in Paris where Malaysia’s sustainability initiatives and efforts, especially in the palm oil industry were highlighted.Tan said the ministry would continuously engage with France with regards to the issue of palm oil.
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