Palm Oil Production Slows, Biodiesel Boosts

This is a Indonesia news story, published by Yahoo Finance, that relates primarily to Harish Harlani news.

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Higher palm oil prices

Reuters

•

Business

Business & Economics

Analysis-The end of cheap palm oil? Output stalls as biodiesel demand surges

Summary

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78% Informative

Palm oil prices could be buoyed up for years by stagnating production and biodiesel push in top producer Indonesia .

Palm oil makes up more than half of global vegetable oil shipments and is popular among consumers in emerging markets.

Indonesia increased the mandatory mix of palm oil in biodiesel to 40% this year , and is studying moving to 50% in 2026 , as well as a 3% blend for jet fuel.

Higher palm oil prices could ripple out to boost those of rival oils as demand shifts.

"We see huge demand increase happening for palm oil and with limited land, we feel, there would be demand and supply imbalance," said Harish Harlani .

"As buyers switch to soy and sunflower, their prices shoot up too," said Sanjeev Asthana , CEO of India 's Patanjali Foods Ltd.

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formal

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English

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