12 July 2011 07:45 [Source: ICIS news]
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
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.
($1 = M$3.01)Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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