Malaysian biodiesel industry rebounds as crude palm oil prices tumble 35 percent; 15 percent drop forecast for 2009

In Malaysia, Aseambankers is forecasting the average crude palm oil price for FY08 and FY09 at $889 and $741 per tonne respectively, which should generate substantial increased activity in biodiesel production. CPO prices reached a high of more than $1100 per tonne earlier this year, causing the shutdown of most biodiesel production activity in the region. The price of crude palm oil is now at $805, down 35 percent from its all time high in March. According to AmResearch, the Malaysian government projects biodiesel exports to rise 50% to 143,000 tonnes for 2008.

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