KUALA LUMPUR (Reuters) - The Indonesian Palm Oil Association (GAPKI) said on Thursday it would ask the government to reformulate its biodiesel blending rates or revise the export levy if palm oil prices maintain their meteoric rise.
Malaysia's benchmark crude palm oil prices started the year at near 10-year highs, trading at around RM3,800 ringgit a tonne and further widening its premium over crude oil, making it a less sustainable option for biodiesel feedstock.
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