PETALING JAYA – One big Malaysian palm oil company, Kuala Lumpur Kepong Bhd (KLK) in the exchange proposal said that the demand of crude palm oil (CPO) from China as the biggest vegetable oil consumer in the world would decrease because the government of China controls to have credits.

"By making ‘letter of credit’ in China, the CPO demand will be influenced,” he said as written in StarBiz, Thursday (21/8/2014).

In a report, it noted that 70% of the imported CPO decreased because it might relate to kinds of payment among the traders and the industries

So KLK thought, the CPO price which is about RM 2100 per tons should be supported by the biodiesel users. (T3)