Tuesday, 4 March 2014

Indonesia on Biofuel Jump


Exports may total 21 million metric tons, similar to 2013.
Consumption climbs as much as 38 percent to 11 million tons.
Production expands to 28 million tons to 31 million tons from 26.5 million tons
3.4 million tons of palm will be used for biodiesel this year in Indonesia with fuel to 10 percent from 7.5 percent and power plants had to blend 20 percent from January
Pertamina has already secured 2.4 million kiloliters of biodiesel, 45 percent of the 5.3 million kiloliters it’s seeking for this year and next, the state oil and gas company said Feb. 16.
Shipments of palm and palm kernel oil from Indonesia climbed 24 percent to 21.22 million tons in 2013 from 17.09 million tons in 2010.
Inventories in Indonesia declined as low as 1.8 million tons at the end of 2013.

(according to Fadhil Hasan, executive director of the Indonesian Palm Oil Association, a producer group)

Source: Bloomberg