Corn oil, waste oil biodiesel stronger than palm oil: USDA

In Washington, the USDA says that palm oil biofuels will have a tough time competing in the American market because corn oil and waste oil biodiesel are cheaper.

Though corn oil currently costs $1,300 a ton with palm oil at more than $900 a ton, it won’t take long for US corn ethanol producers to increase corn oil production capacity significantly which will force down the price and make palm oil non-competitive as a feedstock, the USDA says.