Same prices for Diesel fuel and palm oil: the consequences

Asking prices for diesel fuel and palm oil have reached the same level. Pointing to the fact that the vegetable oil markets face oversupply worldwide, the Union zur Förderung von Oel- und Proteinpflanzen (UFOP) expects that the preference for using palm oil as a feedstock in biofuels production will grow, especially in non-EU countries that impose virtually no sustainability requirements on the feedstocks.

In view of the ongoing trialogue negotiations to revise the EU Renewable Energy Directive, UFOP underlines the worldwide importance of the certification systems approved by the EU Commission for biofuels from cultivated biomass; by adopting the options that are discussed in the trialogue negotiations, the EU would give up the possibility of influencing the implementation of sustainability standards in third countries.

Source and graph: UFOP, Chart Week 21