Press Release
Press Release
Indonesia and Malaysia are the leading producers of palm oil in the global palm oil market. They are also its major exporters. Indonesia, currently, accounts for over 50% of the global exports of the oil. A significant proportion of the export demand of the vegetable oil comes from the rising demand for palm oil as a biodiesel feedstock. Indonesia has been increasing its domestic application of palm oil as a biodiesel feedstock. In 2018, the government of Indonesia mandated the use of diesel containing 20% locally manufactured biodiesel, known as B20. This step by the government is expected to boost the local palm oil industry and reduce the country’s dependency on fuel imports, especially, amidst increasing prices of crude oil. The mandate includes all diesel users under its purview from cars to railways and power plant. It is expected to save the country almost USD 6 billion annually.
The palm oil market might be affected by the Renewable Energy Directive (RED) by the EU which aims to phase out biofuels manufactured from raw materials associated with high land-use, like oil palm, over the next decade. This might prove detrimental to major palm oil markets like Indonesia and Malaysia as the EU is a major importer of palm oil used in the production of biodiesel. The countries might attempt to offset the projected loss by increasing their exports to countries like India and China.
In India and China, the oil finds its primary use in the food sector as a cheap cooking oil. In 2018, India was a leading consumer of palm oil, accounting for a fifth of its consumption. The use of palm oil in the country saw a substantial growth between 2000-2017, with its imports almost tripling in size. India imported almost 10 million tonnes of the oil in 2017. With the rising demand for edible oil, specifically palm oil, in India, the country is looking to expand its domestic production to meet the mounting demand.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Wilmar International Ltd., Cargill, Incorporated, Bunge Limited, Archer Daniels Midland Company, and IOI Corporation Bhd, among others, are the key players in the global palm oil market. The EMR report looks in-depth into their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.