KUALA LUMPUR, Aug 10 (Bernama) -- The future prospects for palm oil will continue to be bright, owing to the increasing demand for oils and fats from growing population and the production of biodiesel, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said Thursday.

Citing the world capita consumption of oils and fats, which currently stood at 16 kilograms and is projected to grow to 20.6 kilograms by 2020, he said the demand is expected to rise from the current level of 90 million tonnes to 169 million tonnes by 2020.

"In this context, palm oil can surely contribute to this growth in the world consumption of vegetables oils, particularly so on account of consumers' increasing acceptance in terms of its quality, versatility and nutritional as well as health characteristics," Chin said.

"Based on this, we are confident that palm oil will continue to play a major role in meeting the future needs and requirements of world's oil and fats," he said in his keynote address at the Clonal and Quality Replanting Material Workshop 2006 here.

Also present were the Malaysian Palm Oil Board's chairman Tan Sri Basir Ismail and director-general Datuk Dr Mohd Basri Wahid.

Themed "Towards Increasing National Productivity by One Tonne Per Hectare Per Year", the one-day workshop was aimed at providing a clearer perspective of the current developments on tissue culture and improved planting materials.

The workshop also discussed issues relating to the productivity of palm oil and proposed solutions.

-- BERNAMA