In Malaysia, Bloomberg reports that palm oil futures slid back from six month highs on Monday as crude oil prices retreated following an uneventful report from China that was widely thought to boost demand that then weighed on soybean oil prices in the US and China. Even though prices fell off for palm oil, their […]
In Indonesia, Reuters reports that when the country boosts its biodiesel blending mandate to 40% from the current 35%, available palm oil supplies will tighten. With blending expected to rise to 16 billion liters next year when the mandate increases, up to 1.7 million metric tons of palm oil annually will be diverted towards biodiesel […]
In Indonesia, The Jakarta Post reports on September 19, at the Globoil conference in Mumbai, Fadhil Hasan of the Indonesian Palm Oil Association informed Reuters that Indonesia’s palm oil exports are set to decrease by 2 million tons to 30.2 million tons in 2024 due to increased domestic demand for biodiesel and reduced production. The […]
In Malaysia, the country is committed to supplying China with Malaysian Sustainable Palm Oil (MSPO) certified palm oil and palm oil products, said YB Datuk Chan Foong Hin, Deputy Minister of Plantation and Commodities. He added that Malaysia seeks to cooperate with China in establishing a shared consensus during engagements with the European Union, particularly […]
In Malaysia, CNA reported that the government of Malaysia said it will closely monitor how the EU responds to a World Trade Organization (WTO) ruling that supported the bloc’s stance that palm oil-based biodiesel should not count as a renewable biofuel, but sought changes in how it implemented that decision.The report noted that a WTO […]
In Malaysia, Reuters reports palm oil prices are expected to rise over the next few months in part due to increasing demand for biodiesel as well as stagnating production in key countries Indonesia and Malaysia. Palm oil prices have already increased 10% in 2024. Growth in palm oil is expected to be the lowest in […]
In Indonesia, Chem Analyst reports the national palm oil association is concered about a potential conflict between food and fuel production if demand for biodiesel continues to expand. About 46% of last year’s production of 23.2 million metric tons went to fuel production while 44% went to food production, and the remaining to cosmestics and […]
In Malaysia, Platts reports that palm oil prices are expected to recover next year thanks to increased demand following increases in biodiesel blending worldwide, while palm oil production is likely to remain stagnant in Indonesia and Malaysia. By the third quarter of 2024, analysts expect palm oil futures prices to reach beyond $850 per metric […]
