Malaysia anticipates that it's biodiesel 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 fuels whereas a reverse will be done by the decline.

In 2005, the Malaysian Government initiated the National Biofuel Policy (or National Biodiesel Policy) to stimulate the biofuel industry of the country. Sabri stated by 2012, Europe's requirement for biodiesel would be ten million Tons as compared to current requirement of four million Tons.

As per the RNCOS report "Biofuel Market Worldwide (2006)", world Biodiesel 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.

To get the latest news visit our newly launched Blog section at http://www.rncos.com/Blog/