ESTATE CROPS INFO – The trend of crude oil price movement depends on how long will the Covid-19 outbreak and economic recovery last? If it is estimated that the Covid-19 outbreak will continue until the end of 2020, then the economic recovery will only start early in 2021, this means that crude oil prices will rise. Still relatively low (less than $ 30 / barrel) At least one year from now.
The price of palm oil since early 2020 ($ 810.07 / Ton) has fallen 21.6% in the last three months. The price decline is expected to continue. Demand for palm oil has decreased. Even for further declines, this will not continue like the decline in raw prices. This is because palm oil is one of the ingredients. Apart from these conditions, it is still necessary to formulate food industry standards. Demand remains sluggish.
So it can be concluded that in this case the Covid-19 outbreak may be the relative price of crude oil. Using palm oil as fuel and biodiesel feedstock will decline, and in turn the competitiveness of Biodiesel will also decline. Delivered palm oil This is a very widespread raw material in the food industry. Its use is at least tenable. Avoid price reductions such as crude oil. (Bur / web team)
Details can be listened to in the following link: Efforts to Increase Oil Palm Farmers’ Income During the Pandemic Through the B30 Mandatory Program