B10 biodiesel programme to contribute more to GDP

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KUALA LUMPUR: The implementation of B10 biodiesel programme using crude palm oil (CPO) by April this year is expected to increase its contribution to the country’s economic growth, said Deputy President of Malaysian Biodiesel Association, U R Unnithan.

With higher consumption of palm biodiesel under the B10 programme at 1.2 million tonnes a year, it was anticipated to help reduce palm oil stock by 600,000 tonnes annually and increased CPO price by about RM680 per tonne, he said.

“The potential impact on gross domestic product (GDP) by B10 would be RM13.6 billion on account of CPO price alone,” he said, adding this would be about 25 per cent higher compared with the impact by the current B7 programme.

“We feel the B10 programme is a right step towards increasing its contribution to Malaysia’s GDP,” he told a press conference on the biodiesel implementation programme in Malaysia here, yesterday. — Bernama