Because of Indonesia, Palm Oil Prices Will Soar!
The price of crude palm oil (Crude Palm Oil / CPO) at the close of trading. The correction was quite deep, reaching 1.74% at MYR 5,034/ton.
In the future, what will happen to the price of CPO? Today, Bursa Malaysia is closed to commemorate Tahipusam Day. So CPO contracts are not traded. Quoted from Reuters, Malaysian palm oil futures rose more than 1% on yesterday as a major Indonesian producer is planning to test biofuels with higher palm content in February. The Ministry of Energy and Mineral Resources (ESDM) plans to road-test a biodiesel program using 40% palm oil-based bio-content (B40). The Ministry of Energy and Mineral Resources plans to test two types of b40 mixtures using 30% fatty acid methyl ether (FAME) and 10% palm methyl ester (DPME) distillation, and another using 30% FAME and 10% palm-based diesel known as green diesel. "The use of B40 must be followed by quality improvements, both biodiesel and diesel," said Dadan Kusdiana, Director General of Energy and Mineral Resources.
|•SOURCE•| Articles :CNBC | Image :BLOOMBERG |
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