Palm Biodiesel Absorption Reaches 3.29 Million Tons in Semester I-2019

“These numbers show that the B20 mandatory program is running well in PSO and non-PSO,” Mukti said in an official statement received by InfoSAWIT.

So far the government is still expected to accelerate the B30 mandate for which road trials are currently underway. The government is also encouraged to expand the use of palm oil directly for PLN power plants.

“If all domestic absorption programs run well then Indonesia’s dependency on the global market can be reduced,” Mukti said.

Meanwhile price-wise, during the first half of 2019 the global CPO price ranged from US$492.5 - US$567.5 per metric ton with an average price in the region of US$501.5 - US$556.5 per metric ton.

In June palm oil production showed a 16% downward trend compared to May, from 4.73 million tons in May to 3.98 million tons in June. Meanwhile Indonesian palm oil stocks in June remained at moderate levels of 3.55 million tons. (T2)

Source: Infosawit.com