Indonesian palm oil industry wants government to rethink new levies if prices keep rising

January 7, 2021 |

In Indonesia, Reuters reports the palm oil association plans to ask the government to review its new export levy policy if prices continue along their meteoric rise. With palm oil prices trading around $950.81 per metric ton, near 10-year highs, the feedstock makes biodiesel blending increase unviable in both Indonesia and Malaysia where governments planned to absorb palm oil stocks with higher blending mandates. Indonesian biodiesel demand is seen at 12.2 million metric tons in 2021, up from 10.2 million tons in 2020.

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Category: Fuels

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