LMC sees Malaysian biodiesel production at 1.3 million tons and Indonesia at 7 million tons

In Malaysia, Reuters reports that the head of LMC sees Malaysian biodiesel production reaching 1.3 million metric tons this year while he expects Indonesia to produce 7 million tons. With palm oil stocks seen falling by Q2 as two years of low inputs begins to take its toll on palm oil yields, he expects European CPO prices to be $570/mt FOB basis by mid-year 2020. He doesn’t expect prices to move much until the start of the New Year.