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Export of palm oil from Indonesia has decreased by 10% after the implementation of the B40 program. It is predicted that prices will rise in 2025-2026.
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Export of palm oil from Indonesia has decreased by 10% after the implementation of the B40 program. It is predicted that prices will rise in 2025-2026.

The ITS report: palm oil exports from Indonesia decreased by 10% in November to 2.01 million tons. It is expected that the volumes will remain low due to the increase in the oil's share in biodiesel to 40% starting from 2024. B40 could restrain global supplies and drive up prices by 2025. The implementation of B40 could be gradual in 2025-26, increasing the demand for oil by 1.5-1.7 million tons.

19 December 2024 19 December 2024

According to the report by Intertek Testing Services (ITS), in November the amount of palm oil exported from Indonesia decreased by 10% after reaching a four-month peak in October (2.23 million tons), now amounting to 2.01 million tons.

It is forecasted that Indonesian palm oil export volumes will remain low until the end of 2024, as the country plans to increase the mandatory palm oil blending in biodiesel fuel from the current 35% to 40% starting January 1st, as part of the B40 program.

Local experts believe that the new biodiesel requirements will restrict palm oil supplies in the global market and lead to a rise in palm oil futures in 2025.

According to the forecasts by the consulting company Transgraph Consulting, the implementation of the B40 program in Indonesia may progress slowly and gradually in 2025, and possibly accelerate in 2026. Analysts earlier estimated that Indonesia's biodiesel production plans would lead to increased demand for palm oil at a level of 1.5-1.7 million tons.

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