(09/10/2008) Plunging
palm oil prices are increasing its attractiveness as a biofuel feedstock and thereby helping buoy demand for the oilseed, reports Reuters.
Will the new production reduce
palm oil prices?
Palm oil prices rose as supplies became limited due to drought in Malaysia and Indonesia.
«
Palm oil price change could save tigers, other species.»
Not exact matches
Additionally,
prices for its major commodity exports - crude
oil and
palm oil - have dropped sharply and its currency, the ringgit, is trading close to its lowest levels since the Asian financial crisis of the late 1990s.
Malaysia's shares and currency have been hit with a toxic brew of declines in the
prices of its commodity exports, especially
palm oil and crude
oil, as well as what may be the country's worst - ever political scandal, which has spurred protests calling for the removal of the prime minister from power.
Prices for major commodity exports crude
oil and
palm oil have dropped sharply and its currency, the ringgit, is trading close to its lowest levels since the Asian financial crisis in the late 1990s.
Although Russia has always been a key market for Dubai, especially for upscale communities including Emirates Hills and
Palm Jumeirah, interest dipped after the record fall of Rouble earlier this year amid the
oil price slump.
The
price premium for sustainable
palm oil is a challenge, Pornsiri notes.
Commenting on these challenges, Jignesh Bhatt, Executive Director for GATC, «leveraging our logistics expertise, dedicated members of our company, and our intimate relationship with key suppliers of CSPO, we are able to seamlessly import and distribute CSPO products to our customers in the US and Canada that have made a superior commitment to sustainability for
palm oil at highly competitive
prices since 2013.»
«This past year, we also strengthened our partnership with environmentally and socially responsible
palm oil companies to also offer bulk RSPO SG
palm oils and
palm kernel oils at competitive
prices to US and Canadian companies that have made a superior commitment to sustainability for
palm oil.»
A 25 litre jerry can of
palm oil now sells at N6, 000 as against the
price of N6, 250 it sold for last week.
In addition, fuel from the world's limited supply of coconuts could drive up the
price of the cooking
oil as well as lead to further clearing of endangered rainforests in Southeast Asia for
palm plantation expansion.
Well, if you don't do things systematically, you end up doing corn ethanol in Iowa and thinking you solved the problem, when all you have done is really drive up food
prices and encourage more people to plant
palm oil, basically, in the Amazon.
Consumers will pay higher
prices for
palm oil made by companies that help to protect endangered species, finds a new study by North American and U.K. researchers.
If you don't do things systematically, you end up doing corn ethanol in Iowa and thinking you solved the problem, when all you have done is drive up food
prices and encourage more people to plant, say,
palm oil in the Amazon.
The study, which involved experiments in supermarkets, shows that the higher
prices consumers were willing to pay for conservation grade
palm oil — akin to Fair Trade programs — more than made up for companies» costs of providing conservation land.
In
price experiments, researchers found that shoppers were willing to pay of between 15 and 56 percent more for «conservation grade»
palm oil products.
Moreover, the article states that the increasing popularity of
palm sugar will cause the
price of products like coconut
oil, coconut flour, and shredded coconut to skyrocket because low income coconut tree farmers will choose to use their trees to produce coconut sugar instead of mature coconuts.
The expansion of the pellets - to - carbon - credit scheme has the feel of an energy rush akin to what happened in Pennsylvania in the early days of the hydraulic fracturing boom and the destructive
palm oil push that affected food
prices.
«The
price of used cooking
oil has increased quite considerably because of the demand for biofuel, and it's started to exceed the
price of refined
palm oil.
Koch informed his audience that «coal is relatively low in
price, that
oil has been «pretty cheap» until recently and that there is an abundance of natural gas, available at a
price almost competitive with coal,» the
Palm Beach paper reported.
In southeast Asia, a dramatic collapse in the
price of
palm oil (60 percent off its peak in March 2008) and rubber (down 54 percent from its high in July 2008) is causing a shake - out in the plantation sector, which has become one of the leading drivers of deforestation in the region.
Helpful to a limited extent, as the energy returned is good for energy invested, BUT the developed world is driving up the
price of cooking
oil for the poorer countries by using food crops for biofuel and by folks putting
palm plantations in places that could be growing food.
More: Carbon payments as safeguard for threatened tropical mammals Deforestation,
Palm Oil, Indonesia Orangutan Could Be First Great Ape to Go Extinct Orangutan's Fingers Mutilated by
Palm Oil Plantation Workers Pay No Attention to the Whining Indonesian
Palm Oil Industry: The Deforestation, Climate Change & Biodiversity Concerns Are Genuine Southeast Asia Paying High Environmental
Price for
Palm Oil
However his estimates for carbon payments for Reducing Emissions from Deforestation and Degradation (REDD) program could offset the lost profits from
palm oil production, at
prices of $ 10 - 33 per tonne of CO2, or $ 2 - 16 per tonne if forest conservation targets only cost - efficient areas.
With
oil prices soaring, biofuels from corn,
palm oil, sugar cane and other agricultural products are increasingly seen as a cheap and cleaner alternative to fossil fuels.
In areas with low agricultural suitability and high forest carbon, notably peatlands, Venter and colleagues find that a carbon
price of $ 2 per tCO2e would be sufficient to beat out returns from
oil palm.
The study, based on overlaying maps of proposed
oil palm development with maps showing carbon - density and wildlife distribution in Kalimantan (Indonesian Borneo), estimates that REDD is financially competitive, and potentially able to fund forest conservation, with
oil palm at carbon
prices of $ 10 - $ 33 per ton of carbon dioxide equivalent (tCO2e).
Malaysia, Indonesia to Use
Palm Oil Surplus for Biodiesel In an effort to boost the price of palm oil, which at $ 871 per tonne is at the lowest level in 15 months, Malaysia and Indonesia have agreed to take 1.9 million tonnes off of the world mar
Palm Oil Surplus for Biodiesel In an effort to boost the price of palm oil, which at $ 871 per tonne is at the lowest level in 15 months, Malaysia and Indonesia have agreed to take 1.9 million tonnes off of the world mark
Oil Surplus for Biodiesel In an effort to boost the
price of
palm oil, which at $ 871 per tonne is at the lowest level in 15 months, Malaysia and Indonesia have agreed to take 1.9 million tonnes off of the world mar
palm oil, which at $ 871 per tonne is at the lowest level in 15 months, Malaysia and Indonesia have agreed to take 1.9 million tonnes off of the world mark
oil, which at $ 871 per tonne is at the lowest level in 15 months, Malaysia and Indonesia have agreed to take 1.9 million tonnes off of the world market.