Malaysia’s June biodiesel exports up by more than 5,000 tonnes from May

12 July 2011 07:45  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s June biodiesel exports were up by more than 5,000 tonnes as compared with May, biodiesel traders said on Tuesday.

According to data from Malaysian Palm Oil Board released on Tuesday, 5,685 tonnes of biodiesel were exported in June, up by 5,631 tonnes from May.

June’s figures are also the highest for biodiesel exports this year.

“Exports have gone up by more than 10,000% from May,” said a Singapore-based biodiesel trader, describing this increase as “unbelievable”.  

“I believe the lower feedstock prices in May and June have contributed to the massive hike in biodiesel exports,” a Malaysian producer said.

“Now is the traditional peak demand season for palm oil-based biodiesel, so naturally exports will be up,” a second Malaysian producer added.

The high volume of biodiesel exports is expected to last until July, with most of the demand coming from Europe, traders said.

Malaysia is the second-largest exporter of biodiesel after Indonesia in the southeast Asia region.

Prices of feedstock crude palm oil (CPO) fell by ringgit (M$) 277/tonne ($92/tonne) to M$3,065/tonne during Tuesday’s morning trade at the Bursa Malaysia, from the same period in June.

Palm methyl ester (PME) prices were down by $100/tonne at $1,140-1,160/tonne FOB SE Asia on Tuesday, also from the same period in June, according to ICIS data.

($1 = M$3.01)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections 

By: Serena Seng

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