According to a report on National Biomass Strategy 2020 the palm oil industry produced 83 million tons in 2012 and is set to produce 100 million tons by 2020 which will significantly increase the gross net income of Malaysia. In a serious move by the Malaysian government to contradict environmental claims against the industry, it is introducing new incentives to promote renewable energy and generate green energy. This year 57% of the 190 megawatt green energy quota will come from the palm oil industry. Malaysia aims to achieve 11% usage of renewable energy by 2020 – up from the 1% the country uses currently.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service