Malaysian palm oil products not affected by EU RED

23 Oct 10

The European Union Renewable Energy Directive (EU RED) and its sustainability criteria will not affect Malaysia’s palm oil exports to the EU market for consumer products like food, cosmetics and detergents, according to ambassador and head of the EU delegation to Malaysia Vincent Piket. While he understood the growing concerns among local palm oil producers on the impact of the EU RED coming into force on Dec 5, Piket said the EU would not block Malaysian palm oil exports there and there would be no new tariffs, quotas and restrictions. Speaking on the last day of the Oils and Fats International Congress 2010 yesterday, he said: “The EU RED is exclusively for trade in biofuels mainly pertaining to the sustainable criteria feedstock meant for our energy and transportation sector.” “Since 90% of Malaysia’s palm oil exported to the EU are for making consumer products with little usage in biofuels, I believe local palm oil are not badly affected by the new EU rules,” added Piket.
http://biz.thestar.com.my/news/story.asp?file=/2010/10/23/business/7283381&sec=business

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