Latest news with #B50
Business Recorder
10 hours ago
- Business
- Business Recorder
Palm oil ends higher on Dalian's strength
JAKARTA: Malaysian palm oil futures closed higher for a third straight session on Tuesday, tracking higher edible oil prices at the Dalian market. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose 16 ringgit, or 0.36%, to 4,400 ringgit ($1,040.68) a metric ton at the close. 'The futures is tracking Dalian strength to be trading higher,' a Kuala Lumpur-based trader said. Dalian's most-active soyoil contract rose 0.9%, while its palm oil contract gained 3.13%. Soyoil prices on the Chicago Board of Trade were down 0.81%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Malaysia's palm oil stocks rose to their highest level in almost two years in July, increasing 4.02% over the month to 2.11 million tons as robust production outpaced an increase in demand, data from the industry regulator showed on Monday. Palm closes over 3% higher following crucial data announcement Exports of Malaysian palm oil products for August 1-10 rose 23.3%, according to cargo surveyor Intertek Testing Services, while according to AmSpec Agri Malaysia it rose 23.7%. Indonesia reaffirmed a plan to raise the mandatory palm oil content in its biodiesel to 50% starting from next year, but the programme known as B50 is unlikely to start in January. India's soyoil imports are poised to surge 60% year-on-year to a record high in 2024/25, as refiners boost purchases due to cheaper prices than rival palm oil, shipments of which are set to hit a five-year low, six dealers told Reuters. Meanwhile, its palm oil imports in the year are likely to fall 13.5% from a year ago to 7.8 million metric tons, the lowest since 2019/20, dealers said.
Business Recorder
a day ago
- Business
- Business Recorder
Palm closes over 3% higher following crucial data announcement
JAKARTA: Malaysian palm oil futures closed more than 3% up, its highest close since April 3, after Malaysia Palm Oil Board's (MPOB) supply data and cargo surveyors' export estimates were published on Monday. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose 129 ringgit, or 3.03%, to 4,384 ringgit ($1,036.16) a metric ton at the close. 'The MPOB data is stronger than expectation, coupled with Dalian jump, we expected market to trade higher,' a Kuala Lumpur-based trader said. Malaysia's palm oil stocks rose to their highest level in almost two years in July, increasing 4.02% over the month to2.11 million metric tons as robust production outpaced an increase in demand, data from the industry regulator showed on Monday. Exports of Malaysian palm oil products for August 1-10 rose 23.3% according to cargo surveyor Intertek Testing Services, while according to AmSpec Agri Malaysia it rose 23.7%. Malaysian palm oil futures climb Dalian's most-active soyoil contract rose 0.52%, while its palm oil contract gained 2.29%. Soyoil prices on the Chicago Board of Trade were up 1.68%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Indonesia reaffirmed a plan to raise the mandatory palm oil content in its biodiesel to 50% starting from next year, but the programme known as B50 is unlikely to start in January, senior energy ministry official Eniya Listiani Dewi told reporters on Monday. The ringgit, palm's currency of trade, strengthened slightly 0.09% against the dollar, making the commodity slightly more expensive for buyers holding foreign currencies.
Reuters
2 days ago
- Automotive
- Reuters
Indonesia aims to launch B50 biodiesel in 2026, but unlikely in January
JAKARTA, Aug 11 (Reuters) - Indonesia reaffirmed its plan to introduce a mandatory 50% bio content in biodiesel next year, but the programme is unlikely to start in January, senior energy ministry official Eniya Listiani Dewi told reporters on Monday. The government will carry out a number of tests for the fuel, known as B50, which may take up to eight months.
Time Out
18-07-2025
- Time Out
Bangkok ranked best city in the world for digital nomads
Bangkok just snagged another crown, and this one's for the laptop-and-a-backpack crowd. Yep, a massive new survey from Hotelwithtub has named the Big Mango the number one destination in the world for digital nomads. The ranking wasn't just a vibe check; it analysed data from over 1,300 cities, focusing on key factors like affordability (for solo travellers and families), safety, quality of life, and online buzz. Basically, what many of us have known for years is now official: for a perfect blend of work, culture, and chaos, Bangkok is the place to be. The capital earned a final weighted score of 91 out of 100, landing in first place with strong marks across the board. Feedback from nomads gave it an impressive rating of 4.55 out of 5. It stood out particularly in affordability, with solo remote workers able to live comfortably on around B50,000 per month. It also scored well for its solid infrastructure, efficient public transport and abundance of coworking spaces – from sleek downtown towers to cosy garden cafes. Other standouts included safety, connectivity, and return rate, suggesting that many nomads not only love their first visit but often come back for more. With over 23 million visitors each year, the metropolis remains one of the most visited and internationally connected cities in Asia. And it's not just Bangkok flying the flag – Thailand is the most represented country in the ranking, with seven cities making an appearance: Bangkok (No. 1), Nakhon Ratchasima (No. 5), Koh Phangan (No. 13), Chiang Mai (No. 26), Koh Lanta (No. 45), Phuket (No. 59), and Krabi (No. 93). For those considering a longer stay, the country recently introduced the Destination Thailand Visa (DTV), designed for remote workers and freelancers. The visa allows stays of up to 180 days per entry, with the option to extend for another 180 days. It's valid for five years and provides multiple entries.
New Straits Times
18-07-2025
- Business
- New Straits Times
Indonesia's B50 mandate could boost palm oil demand by 3mil tonnes: CIMB Securities
KUALA LUMPUR: Domestic palm oil consumption in Indonesia could surge by about three million tonnes should the government implement its B50 biodiesel mandate, CIMB Securities Sdn Bhd said. The firm noted that this potential increase accounts for about 6.2 per cent of Indonesia's estimated 2024 crude palm oil (CPO) production of 48.2 million tonnes, based on figures from the Indonesian Palm Oil Association (GAPKI). "We believe that if Indonesia implements B50, it would be supportive of CPO prices in 2026, as the additional demand would likely offset any negative impact from the higher US import tariffs on palm oil (19 per cent for Indonesia and 25 per cent for Malaysia, effective Aug 1, 2025)," it added. Eniya Listiani Dewi, director general of new and renewable energy at Indonesia's Ministry of Energy and Mineral Resources, said the government is evaluating the feasibility of raising the biodiesel blend to 50 per cent under the B50 programme. However, no firm decision has been made to implement B50 in 2025, as the government is still consulting experts and assessing feedstock availability and processing capacity. To support the potential rollout, the ministry indicated that five additional biodiesel plants will be needed, with three currently under construction. CIMB Securities said it is positive on the implementation of B40 in Indonesia, which appears to be on track to meet its 2025 biodiesel target. The firm said this is anticipated to boost Indonesia's domestic palm oil consumption by two million tonnes and reduce its exportable surplus. "We are also encouraged by the availability of funding for biodiesel subsidies. To recap, out of the 15.62 million kilolitres (kls) allocated, 7.55 million kls, or 48 per cent, is earmarked for public service obligation (PSO) sectors such as public transport and is fully subsidised. "The remaining 8.07 million kls will be sold at market prices without subsidy, which explains why subsidised biodiesel consumption of 3.5 million kls is lower than total biodiesel consumption," it noted. CIMB Securities believes the potential implementation of B50 is a key factor to watch, as it could tighten palm oil exports from Indonesia in 2026. "The Indonesian Biofuel Producers Association (APROBI) projects that B50 would raise annual biodiesel demand from 15.6 million kls (B40) to approximately 19 million kls, while the Indonesian Ministry of Energy similarly estimates a need for about 19.7 million kls of biodiesel to run B50. "To achieve this, Indonesia will need to add new plants as current installed capacity stands at around 19.6 million kls," it noted. Meanwhile, CIMB Securities said Malaysia has set the August gazetted CPO price at RM3,864 per tonne, resulting in an increase in the CPO export tax to nine per cent compared to 8.5 per cent in July. It added that the combination of a higher Malaysian export tax and the upcoming increase in US import duties from 10 per cent to 25 per cent could boost palm oil exports in July. This could support CPO prices in the near term, the firm said. "We maintain our average CPO price forecast of RM4,200 per tonne for 2025 and continue to favour IOI Corporation Bhd and Hap Seng Plantations Holdings Bhd as our top picks in the plantation sector," it said.
