InfoSAWIT, KUALA LUMPUR – Crude palm oil was cheaper in January – May 2020. But since June to October 2020, it got better approximately US$ 700/ton. In the same time two biggest palm oil exporter countries, Indonesia and Malaysia had increasing exports in July to October 2020 to China, India, and European Union. The export volume from the two countries to the China, India, and European Union once hit more than 2 million tons in July while palm oil exports in the world in July reached the highest numbers about 6 million tons.
Referring to LMC, in the Covid-19 pandemic, biodiesel usage decreased but the vegetable oil remained good. It happened for the lockdown policy which influenced the people’s activities to ride or go. The jet fuel, gasoline, diesel demands also decreased. These also decreased biodiesel mandatory policy because biodiesel mixture to diesel which is used to transportation also decreased.
“But all of a sudden, the lack of waste materials (such as, used cooking oil and animal fats) in the United States of America and European Union made methyl ester from vegetable oil really increase,” Julian Mc Gill of LMC said in the POC 2020 webinar. (T2)
This article once published in InfoSAWIT, November 2020
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