Malaysia sets palm oil biodiesel subsidy, effective June 1

In Malaysia, the government said it will pay between 4 Malaysian cents, or sen, to 6 Malaysian cents per litre for a 5% blend of palm-based biofuel with diesel, beginning June 1, which should create demand for 100,000 metric tons of palm oil before year’s end. The news boost Bursa Malaysia Derivatives palm oil futures to a two-week high to $1,220 per ton.

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