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PR Newswire
12-09-2023, 11:22 AM
hi i4value,
The whole palm oil as bio diesel thing started off with George Bush signing it off into law to get ethanol 10% into their fuel, right towards the end of his tenure. While Bush's main goal was to help their own corn industry, as usual, the whole world followed US standards. A couple of years ago, the EU signed off their own law to ban "unsustainable" bio fuels sources (eg. oil palm which causes deforestation) and most people believe it was just their way to protect their own rapeseed industry as well.
Regardless of how efficient palm oil is touted as a bio fuel, the protective behavior of the biggest US/EU markets towards their own agri industries will not change. With China probably going to be the 1st EV nation, palm oil is left with India as their biggest market.
With this bio fuel tailwind taken off, will palm oil still have a bright future?
The whole palm oil as bio diesel thing started off with George Bush signing it off into law to get ethanol 10% into their fuel, right towards the end of his tenure. While Bush's main goal was to help their own corn industry, as usual, the whole world followed US standards. A couple of years ago, the EU signed off their own law to ban "unsustainable" bio fuels sources (eg. oil palm which causes deforestation) and most people believe it was just their way to protect their own rapeseed industry as well.
Regardless of how efficient palm oil is touted as a bio fuel, the protective behavior of the biggest US/EU markets towards their own agri industries will not change. With China probably going to be the 1st EV nation, palm oil is left with India as their biggest market.
With this bio fuel tailwind taken off, will palm oil still have a bright future?