Biodiesel used in Europe cannot help push up the demand, one option is to persuade India to buy more. FMTNews RBD India
Palm oil demand from India, Malaysia’s largest market for the commodity, is likely to remain negligible even post-Covid-19.
This, he said, had been further complicated by the drop in crude oil prices which made biodiesel financially not viable. Prior to the Covid-19 outbreak, the adoption of a higher biodiesel blend was seen as one of the ways to support the demand for palm oil. “In the case of the EU, their demand for palm oil is mostly for biodiesel in the transport sector but this is likely to continue to be affected by Covid-19.”Demand from India, which had been one of Malaysia’s largest palm oil markets in the past is likely to remain negligible even post-Covid-19.
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