Indonesia’s B40 plans on hold due to high palm oil prices

In Indonesia, Reuters reports that high palm oil prices are forcing the country to push back its B40 ambitions. Originally set for roll out in July from the current 30% blending level, the program has been delayed indefinitely but a senior energy ministry official did indicate it would be difficult to reach B40 in 2022. On August 12, Malaysian palm oil futures reached a record high of $1,089.35 and although they have fallen since then, they’re still about 60% higher than last year.