Indonesia B40 Biodiesel Plan would be 'Devastating' For World
KUALA LUMPUR, Oct 8 (Reuters) - A oil market analyst on Tuesday stated Indonesia's strategy for the prevalent usage of the palm-oil based B40 biodiesel from next year would be "devastating" for the global market, as it would include the extra use of 1.5 to 1.7 million metric lots of the product.
Oil World senior analyst David Mielke likewise stated worldwide palm oil production is anticipated to increase by 2.3 million metric lots in 2024/25 compared to the previous season.
(Reporting by Danial Azhar and Ashley Tang; Editing by Martin Petty)