Palm oil output stalls as biodiesel demand surges

Quick Summary:

Prices of cooking oil could be buoyed for years by stagnating production and a biodiesel push in top producer Indonesia that are making traditionally cheap palm oil costlier, eliminating an advantage that also curbed prices of rival oils.

The biodiesel push will reduce Indonesia’s exports to just 20 million tonnes in 2030, down a third from 29.5 million in 2024, estimates Eddy Martono, chairman of the South-East Asian nation’s largest palm oil association, Gapki.

Still, palm oil consumption will keep surging, fuelled by demand from chemicals and biofuel, industry officials said.“We see huge demand increase happening for palm oil and with the limited land, we feel, there would be demand and supply imbalance,” said Harish Harlani, vice-president at P&G Chemicals.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaColombiaIndiaIndonesiaIvory CoastNigerNigeria

Topics: Palm Plantations CPO /Business/Business News Oil Commodities

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-11 @ 07:00:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 910 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Star

News ID: 26868776

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