1 changed files with 28 additions and 0 deletions
@ -0,0 +1,28 @@ |
|||
<br>[Indonesia prepares](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to carry out B40 in January<br> |
|||
<br>Because case, rates may rally 10%-15% in Jan-March, Mielke says<br> |
|||
<br>B40 will need extra 3 mln tons feedstock, GAPKI states<br> |
|||
<br>[Malaysia palm](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [oil standard](https://www.crunchbase.com/organization/mission-newenergy) at greatest since mid-2022<br> |
|||
<br>India might withdraw import tax hike amid inflation, Mistry says<br> |
|||
<br>(Adds expert comments, updates Malaysia's palm oil standard price)<br> |
|||
<br>By Bernadette Christina<br> |
|||
<br>NUSA DUA, Indonesia, Nov 8 (Reuters) - Indonesia's [palm oil](https://www.crunchbase.com/organization/mission-newenergy) output is forecast to recuperate in 2025 after an [expected drop](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) this year, however costs are expected to remain elevated due to scheduled expansion of the country's [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) mandate, industry analysts said.<br> |
|||
<br>The palm oil [standard](https://www.pinterest.com.au/missionnewenergy/) rate in Malaysia has actually risen more than 35% this year, lifted by sluggish output and [Indonesia's](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) strategy to increase the obligatory domestic [biodiesel](https://www.pinterest.com.au/missionnewenergy/) blend to 40% in January from 35% now in an effort to [lower fuel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) imports.<br> |
|||
<br>Palm oil output next year in top manufacturer Indonesia is expected to recuperate by 1.5 million metric tons compared to a [projected drop](https://www.pinterest.com.au/missionnewenergy/) of simply over a million heaps this year, Julian McGill, handling director at Glenauk Economics, told the [Indonesia Palm](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Oil Conference on Friday.<br> |
|||
<br>Thomas Mielke, head of Hamburg-based research study firm Oil World, said he expects Indonesia's palm oil production to [increase](https://forest500.org/rankings/companies/mission-newenergy-limited) by as much as 2 million heaps next year after a 2.5 million heap drop in 2024.<br> |
|||
<br>While Indonesia's output is anticipated to enhance, provide from in other places and of other veggie oils is seen [tightening](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br> |
|||
<br>Palm oil output in neighbouring Malaysia is anticipated to dip slightly next year after increasing by an estimated 1 million loads in 2024.<br> |
|||
<br>"We would require a healing in palm in 2025 since combined exports of soya, sunflower and rapeseed oils are declining," [Mielke stated](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4).<br> |
|||
<br>'FRIGHTENING' PRICE SURGE<br> |
|||
<br>The price rise in palm oil in the previous seven weeks has actually been "frightening" for buyers, Mielke said, adding that it would rally by 10%-15% in January-March if [Indonesia imposes](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) the so-called B40 policy.<br> |
|||
<br>The Indonesia Palm Oil Association said of around 3 million heaps will be needed for B40 implementation, deteriorating export supply.<br> |
|||
<br>The present palm oil premium has already caused palm to lose [market share](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) against other oils, Mielke added.<br> |
|||
<br>Malaysian palm oil prices are seen trading at around $950 to $1,050 per metric lot in 2025, McGill of Glenauk estimated.<br> |
|||
<br>Benchmark Malaysian palm oil touched 5,104 ringgit ($1,165.30) on Friday, the greatest given that mid-2022.<br> |
|||
<br>"Sentiment today is red-hot and very bullish, we have to take care," [stated Dorab](https://stocktwits.com/symbol/MNEL) Mistry, director at Indian durable goods business Godrej International.<br> |
|||
<br>He [forecast](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) the Malaysian price around 5,000 [ringgit](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) and above until June 2025.<br> |
|||
<br>Mielke and Mistry advised Indonesia to<br> |
|||
<br>consider postponing<br> |
|||
<br>B40 execution on concern about its effect on food consumers.<br> |
|||
<br>Meanwhile, Mistry expected leading palm oil importer India to withdraw its<br> |
|||
<br>import duty hike<br> |
|||
<br>enforced from September after elections in the state of Maharashtra in November. ($1 = 4.3800 ringgit) (Reporting by Bernadette Christina Munthe Writing by Fransiska Nangoy |
|||
Loading…
Reference in new issue