Indonesia B40 Biodiesel Plan would be 'Devastating' For World (#2) · Issues · Sara Evers / m2-capital-sdn.-bhd

Indonesia B40 Biodiesel Plan would be 'Devastating' For World

KUALA LUMPUR, Oct 8 (Reuters) - A oil market analyst on Tuesday said Indonesia's plan for the widespread usage of the palm-oil based B40 biodiesel from next year would be "catastrophic" for the international market, as it would include the extra usage of 1.5 to 1.7 million metric lots of the commodity.

Oil World senior expert David Mielke likewise stated global palm oil production is anticipated to increase by 2.3 million metric heaps in 2024/25 compared to the previous season.

(Reporting by Danial Azhar and Ashley Tang; Editing by Martin Petty)

KUALA LUMPUR, Oct 8 (Reuters) - A [oil market](https://www.bloomberg.com/profile/company/MNELF:US) [analyst](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) on Tuesday said [Indonesia's plan](https://forest500.org/rankings/companies/mission-newenergy-limited) for the [widespread usage](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of the [palm-oil](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) based B40 [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) from next year would be "catastrophic" for the [international](https://www.zoominfo.com/c/mission-newenergy/346542889) market, as it would include the [extra usage](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of 1.5 to 1.7 million metric lots of the [commodity](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html). 
 Oil World [senior expert](https://www.zoominfo.com/c/mission-newenergy/346542889) [David Mielke](https://www.zoominfo.com/c/mission-newenergy/346542889) likewise [stated global](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) palm [oil production](https://pitchbook.com/profiles/company/51278-86) is [anticipated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to [increase](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) by 2.3 million [metric heaps](https://stocktwits.com/symbol/MNEL) in 2024/25 [compared](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to the previous season. 
 ([Reporting](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) by [Danial Azhar](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and Ashley Tang; [Editing](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by Martin Petty)