Indonesia B40 Biodiesel Plan would be 'Catastrophic' For World (#3) · Issues · Arden Armer / oleovest-pl

Indonesia B40 Biodiesel Plan would be 'Catastrophic' For World

KUALA LUMPUR, Oct 8 (Reuters) - A leading palm oil market expert on Tuesday said Indonesia's prepare for the prevalent use of the palm-oil based B40 biodiesel from next year would be "devastating" for the global market, as it would include the additional usage of 1.5 to 1.7 million metric lots of the product.

Oil World senior expert David Mielke also said 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)

KUALA LUMPUR, Oct 8 (Reuters) - A [leading palm](https://forest500.org/rankings/companies/mission-newenergy-limited) [oil market](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) expert on Tuesday said [Indonesia's](https://stocktwits.com/symbol/MNEL) [prepare](https://www.businessnews.com.au/Company/Mission-NewEnergy) for the [prevalent](https://www.businessnews.com.au/Company/Mission-NewEnergy) use of the [palm-oil based](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) B40 [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) from next year would be "devastating" for the global market, as it would include the [additional usage](https://www.bloomberg.com/profile/company/MNELF:US) of 1.5 to 1.7 million metric lots of the [product](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm). 
 Oil World [senior expert](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [David Mielke](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) also said [oil production](https://stocktwits.com/symbol/MNEL) is [anticipated](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to [increase](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by 2.3 million metric lots in 2024/25 [compared](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) to the previous season. 
 ([Reporting](https://www.google.com/search?kgmid=/m/0cqd_rb) by [Danial Azhar](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and Ashley Tang; [Editing](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by Martin Petty)