Friday, 29 November 2013
Palm oil drives oil prices
- Palm oil prices may surpass a year maximum, having reached a point in $930 for ton by March, 2014. The main reason is a growing demand for biodiesel.
- Producers of palm-oil including large companies which are based in Indonesia – the largest producers of palm oil in the world – expect that new biofuel standards, accepted in a number of countries, will support the industry.
- Support will also come from the other side: standard increase on biofuels can be accepted in Brazil in January, 2014. Though here it is a case of soy oil, soy processing can grow by 10% owing to introduction of new rules, that will cause total growth of prices in the oilseeds sector.
- However it becomes more difficult for producers to keep prices from falling after May 2014 when products of a new harvest come to the market.
Источники:
Agro2b
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