Palm oil-based biodiesel exports to China and EU soar in Q1

In Malaysia, Bloomberg reports that biodiesel exports to China and the EU from both Malaysia and China have soared during the first quarter of 2019, perhaps as much as 30% to 145,000 metric tons. At least another five cargos totaling as much as 250,000 tons have been booked for China for delivery between March and May. Although the European Union has come down hard on palm oil-based biodiesel for causing indirect land use change, the premium for Brent crude oil against palm oil has increased 27% in the past three months, making biodiesel a much more attractive prospect.