Tidbits, Biofuel & Oils, Grain Exports, Crop Progress, ENSO, Export Inspections 4/14/26
- Wright team
- 7 hours ago
- 5 min read
Tidbits
OPEC has lowered its world oil demand forecast for the second quarter by 500,000 barrels per day to 105.07 million bpd, citing the economic impact of the ongoing war in the Middle East, Bloomberg reported.
AAA lists the national average gasoline price at $4.12, up from $3.63 a month ago and $3.18 a year ago. The national average diesel price at $5.65, up from $4.89 a month ago and $3.59 a year ago.
Biofuel & Oils: Palm oil is the most plentiful vegetable oil, which is also the least healthy of the nine major vegetable oils. More than 90% of the world’s palm oil is produced by Malaysia and Indonesia. India buys a huge amount of vegetable oil, which used to be almost 100% palm oil because it was cheaper and the two major producers of palm oil are much closer to India than major producers of the other eight vegetable oils.
In recent years, Malaysia and Indonesia have steadily increased their percentage of palm oil used in their biodiesel blend, which obviously reduced palm oil available for export. Two or so years ago, India bought 76,000 mts of U.S. soybean oil during a three month period.
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