In the last two weeks on PalmTrack, we covered:
Indonesia’s expanded palm oil export permit: The world’s major palm oil exporter has extended its export permit requirement for palm oil product to include other derivatives. Previously only applicable to crude palm oil (CPO), olein, and used cooking oil, the change now means that CPO and its derivatives, crude palm oil and its derivatives, as well as palm kernel expellers will be subjected to the permit.
USCBP findings on Sime Darby: The US CBP on 28 Jan reported that it has “found evidence of all 11 of the International Labour Organization’s forced labor indicators on the Da Wang vessel and Sime Darby Plantation’s palm oil plantations.” PalmTrack has have been closely updating on certified palm oil and find that key market players concur on these problems on supply in key products.
Tankers from Indonesia: Port calls for 24 Jan–6 Feb 2022 (14 days) count, c.80 palm-related tankers, with sample net tonnage c.450k (versus 14D to 23 Jan, c.60 tankers with sample net tonnage c.360k). These two weeks (24 Jan–6 Feb) the share of calls was slightly higher for North Asian, European, and South Asian ports.
Rainfall: 30 days rainfall was est. 100–150mm across central Peninsular Malaysia, and over 200mm above normal up in central area of Sumatra. Typical 30-days rainfall in Jan–Feb is 100–200mm on Sabah, Sarawak, south Sumatra, and across Kalimantan.
Palm Biofuel - Part #2: Resuming our three-part series on palm biofuels, where in Part 1 we explored the USD billions involved and who is more or less committed to spending and paying, we have now turned to the shift to HVO-SAF, waste feedstock and about certification premia for Part 2.
Whither PKE? PalmTrack’s analysis of palm kernel expeller (PKE) market shifts, which point to some struggle for this product.
Khor Reports’ PalmTrack is an independent research service that tracks palm tanker movements and reports trade of palm products (and shipments, upon request) for selected trade routes. It features a forward-looking market topic and sharp analysis every quarter, e.g. palm biofuels issues & opportunities for Jan–Mar 2022. Subscribe now!