1 changed files with 28 additions and 0 deletions
@ -0,0 +1,28 @@ |
|||
<br>[Indonesia prepares](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to carry out B40 in January<br> |
|||
<br>In that case, prices may rally 10%-15% in Jan-March, Mielke says<br> |
|||
<br>B40 will need extra 3 mln tons feedstock, GAPKI states<br> |
|||
<br>[Malaysia palm](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [oil standard](https://stocktwits.com/symbol/MNEL) at highest given that mid-2022<br> |
|||
<br>India might withdraw import tax hike amid inflation, Mistry states<br> |
|||
<br>(Adds expert comments, updates Malaysia's palm oil benchmark cost)<br> |
|||
<br>By [Bernadette](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Christina<br> |
|||
<br>NUSA DUA, Indonesia, Nov 8 (Reuters) - Indonesia's [palm oil](https://stocktwits.com/symbol/MNEL) output is anticipated to recuperate in 2025 after an anticipated drop this year, but costs are expected to remain [elevated](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) due to organized growth of the nation's [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) mandate, industry analysts said.<br> |
|||
<br>The palm oil criteria price in Malaysia has risen more than 35% this year, raised by sluggish output and Indonesia's plan to increase the [mandatory domestic](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) blend to 40% in January from 35% now in an effort to minimize fuel imports.<br> |
|||
<br>Palm oil output next year in top manufacturer Indonesia is expected to by 1.5 million metric tons compared with a [projected drop](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of just over a million tons this year, Julian McGill, handling director at Glenauk Economics, informed the Indonesia Palm Oil Conference on Friday.<br> |
|||
<br>Thomas Mielke, head of Hamburg-based research [firm Oil](https://www.zoominfo.com/c/mission-newenergy/346542889) World, stated he anticipates Indonesia's palm oil production to increase by as much as 2 million loads next year after a 2.5 million lot drop in 2024.<br> |
|||
<br>While Indonesia's output is [forecast](https://www.pinterest.com.au/missionnewenergy/) to enhance, supply from somewhere else and of other vegetable oils is seen tightening.<br> |
|||
<br>Palm oil output in neighbouring Malaysia is anticipated to dip a little next year after increasing by an approximated 1 million lots in 2024.<br> |
|||
<br>"We would need a healing in palm in 2025 due to the fact that combined exports of soya, sunflower and rapeseed oils are declining," Mielke said.<br> |
|||
<br>'FRIGHTENING' PRICE SURGE<br> |
|||
<br>The cost surge in palm oil in the past 7 weeks has been "frightening" for buyers, Mielke stated, including that it would rally by 10%-15% in [January-March](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) if [Indonesia implements](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) the so-called B40 policy.<br> |
|||
<br>The [Indonesia Palm](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Oil Association said additional [feedstock](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of around 3 million lots will be needed for B40 application, deteriorating export supply.<br> |
|||
<br>The present palm oil premium has actually already caused palm to lose [market share](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) versus other oils, Mielke added.<br> |
|||
<br>Malaysian palm oil prices are seen trading at around $950 to $1,050 per metric lot in 2025, McGill of Glenauk approximated.<br> |
|||
<br>Benchmark Malaysian palm oil touched 5,104 ringgit ($1,165.30) on Friday, the highest considering that mid-2022.<br> |
|||
<br>"Sentiment right now is red-hot and extremely bullish, we need to be mindful," stated Dorab Mistry, director at Indian durable goods company Godrej International.<br> |
|||
<br>He anticipated the Malaysian cost around 5,000 ringgit and above till June 2025.<br> |
|||
<br>Mielke and Mistry prompted Indonesia to<br> |
|||
<br>consider postponing<br> |
|||
<br>B40 implementation on concern about its influence on food customers.<br> |
|||
<br>Meanwhile, Mistry anticipated top palm [oil importer](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) India to [withdraw](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) its<br> |
|||
<br>import duty hike<br> |
|||
<br>enforced from September after elections in the state of Maharashtra in November. ($1 = 4.3800 ringgit) (Reporting by Bernadette Christina Munthe Writing by Fransiska Nangoy |
|||
Loading…
Reference in new issue