Reuters. Asian palm oil could supply up to 20% of the European Union’s biodiesel needs by 2010, Pascal Cogels, the head of Fediol, the EU’s vegetable oils federation, told Reuters.
The reason is price: palm oil is one of the least expensive vegetable oils.
The winners in that scenario would be Malaysia, which produces 45% of the world’s palm oil and Indonesia (39%).
The EU currently imports about 3.5 million tonnes of refined and crude palm oil every year, chiefly from those two countries.
A 20% share of biodiesel would mean between some 300,000 and 350,000 tonnes of additional palm oil imports, according to Fediol.
Rapeseed oil now makes up between 80%–85% of the EU biodiesel.