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Indonesia B40 Biodiesel Plan would be ‘Devastating’ For World
KUALA LUMPUR, Oct 8 (Reuters) – A leading palm oil market expert on Tuesday stated Indonesia’s prepare for the widespread use of the palm-oil based B40 biodiesel from next year would be “disastrous” for the global market, as it would involve the extra use of 1.5 to 1.7 million metric loads of the commodity.
Oil World senior expert David Mielke likewise said global palm oil is anticipated to increase by 2.3 million metric loads in 2024/25 compared to the previous season.
(Reporting by Danial Azhar and Ashley Tang; Editing by Martin Petty)