Palm oil could be used for biodiesel. In Malaysia, the government is boosting the B7 Biodiesel by November 2014.
With the introduction of B7 Biodiesel, the local consumption of palm oil will be boosted up to 700,000 tonnes a year.
Recently there are 2 factors arising which may make the future of palm oil a plight.
Firstly, with the recent increase of production of fossil fuel in North America, the global fuel price has dropped. This will make the biodiesel price not that attractive.
Secondly, the global CPO price is now below RM2000 before October 2014. The future may not be that bright.
For more information on biodiesel, please visit http://www.powerzone-biodiesel.com.