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French court rules against tax breaks for palm oil biofuel

PARIS, Oct 11 (Reuters) - France’s constitutional court on Friday upheld a recent French law that excludes palm oil from a list of permitted biofuels and that will eliminate palm oil’s tax advantages from January 2020.

French oil major Total, whose La Mede biorefinery runs partly on palm oil, had brought a case to the court in an effort to overturn the law.

Total CEO Patrick Pouyanne has warned that if the law is upheld, it would probably be the end of La Mede, in which Total has invested 300 million euros ($330 million) to convert it to use palm oil and which started production in September.

$1 = 0.9087 euros Reporting by Geert De Clercq; Editing by Dale Hudson

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