NewsFlashGerman law threatens soy, palm oils

22 October 2008 16:05  [Source: ICIS news]

LONDON (ICIS news)--The German government has passed legislation saying soy oil and palm oil derived biodiesel can no longer be credited against biofuel quotas unless new sustainability criteria are met, the German Ministry of the Environment said on Wednesday.

 

“This is terrible news. If they remove palm methyl ester [PME] and soy methyl ester [SME] it kills the B100 market,” a broker said.

 

Under the new legislation, the reduced level of taxation for 100% (B100) production will only be available on pure rapeseed blends pending ratification of the new sustainability requirements, which will be based on upcoming EU legislation.

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Author: Rachel Howat
+44 20 8652 3214

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