Brazil and Malaysia are interested to invest in African palm plantations in Ecuador, said the agriculture and livestock minister, Pablo Rizzo. Malaysia would plant 50,000 hectare while Brazil 100,000 hectare.
The Brazilian oil company Petrobras would support the project with the aim to develop the biofuel industry. Currently, Ecuador has a surplus of 340.000 tons of African palm oil that are exported to Venezuela. Brazil is one of the largest producers of biofuel worldwide.
Source: Soyatech.com June 13, 2006.