OREANDA-NEWS. November 10, 2014. Felda Global Ventures Holdings Bhd (FGV) is expanding its biodiesel business in China with the second shipment of 6,000 tonnes of palm oil methyl ester (PME) to Dongguan Port, Guangdong.

The company successfully made a maiden shipment of 6,000 tonnes of PME to Nansha Port, Guangzhou, last month.

Group president/chief executive officer Datuk Mohd Emir Mavani Abdullah said the first shipment was a highly significant development for FGV’s biodiesel ambitions.

“By successfully penetrating the China market, FGV is on track to achieving its biodiesel global growth targets.

“China is one of the biggest biodiesel markets in the world. Given its huge energy requirements and reliance on biodiesel imports, we can meet this demand by virtue of being Malaysia’s largest PME exporter,” he said in a statement.

FGV currently accounts for 31.59 per cent of Malaysia’s PME exports, he said.

Biodiesel trade between China and Malaysia is poised to rise, based on the former’s rapidly growing interest in renewable energy.

From January to August, China had imported 590,777 tonnes of biodiesel from around the world.