(Bloomberg) -- Malaysia palm oil futures gained the
most in three weeks on concern that supply may lag behind demand
as the biofuels industry grows and limits availability of the
commodity for traditional uses in cooking.
The European Union wants biofuels to make up an average 5.75
percent of transportation fuel by 2010 and 10 percent by 2020, in
an effort to reduce dependence on fossil fuels and curb
greenhouse-gas emissions. Biodiesel, which uses palm oil as a
feedstock, constitutes about 80 percent of EU biofuels production,
according to research company Frost & Sullivan Inc.
Read more at Bloomberg Commodities News
most in three weeks on concern that supply may lag behind demand
as the biofuels industry grows and limits availability of the
commodity for traditional uses in cooking.
The European Union wants biofuels to make up an average 5.75
percent of transportation fuel by 2010 and 10 percent by 2020, in
an effort to reduce dependence on fossil fuels and curb
greenhouse-gas emissions. Biodiesel, which uses palm oil as a
feedstock, constitutes about 80 percent of EU biofuels production,
according to research company Frost & Sullivan Inc.
Read more at Bloomberg Commodities News
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