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Biofuel Production To Go Very High In Malaysia
It is being projected that the biofuel production in Malaysia for exports is going to be one Million tons in 2007. This is more than double the production of biofuels in 2006, which is about 400,000 tons.
Malaysia anticipates that it's production is going to double in 2007 so as to meet the rising demands of substitutional fuels, quoted the Commodities Minister to the press on Dec. 5, 2006.
The Chairman of Malaysian POA (Palm Oil Association) Datuk Sabri Ahmad stated that the demand for biofuels in Europe & US was expanding quickly due to rising demand of more eco-friendly energy resources.
The ongoing high or increasing prices of oil will enhance the business prospects for optional
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fuels whereas a reverse will be done by the decline.
In 2005, the Malaysian Government initiated the National Biofuel Policy (or National Policy) to stimulate the biofuel industry of the country. Sabri stated by 2012, Europe's requirement for would be ten million Tons as compared to current requirement of four million Tons.
As per the RNCOS report "Biofuel Market Worldwide (2006)", world production is growing at the rate of more than 30% from the year 2006, and is likely to touch the mark of 12 billion liter by the end of 2010.
For further information on biofuel market, read the report "Biofuel Market Worldwide (2006)" published by RNCOS at: http://www.rncos.com/Report/IM043.htm
RNCOS is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our other reports, visit us at:
http://www.rncos.com/Report.htm or email us at info@rncos.com.
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