Mission NewEnergy Ltd

Overview

  • Founded Date October 14, 1916
  • Sectors Retail and Customer Service
  • Posted Jobs 0

Company Description

Indonesia B40 Biodiesel Plan would be ‘Disastrous’ For World

KUALA LUMPUR, Oct 8 (Reuters) – A leading palm oil market analyst on Tuesday said Indonesia’s plan for the widespread usage of the palm-oil based B40 biodiesel from next year would be “catastrophic” for the market, as it would involve the extra use of 1.5 to 1.7 million metric lots of the product.

Oil World senior analyst David Mielke also said global palm oil production is anticipated to increase by 2.3 million metric lots in 2024/25 compared to the previous season.

(Reporting by Danial Azhar and Ashley Tang; Editing by Martin Petty)

 
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