Palm oil and crude oil prices rise, Bumitama Agri: Cost pressure also aids business growth | Lianhe Zaobao
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The Iran war has driven up energy prices, putting cost pressure on palm oil producer Bumitama Agri, but the rise in oil prices has also boosted its business growth. The company stated that the increase in fuel and fertilizer prices has a direct impact on costs, averaging 10% of total production costs, but remains within a controllable range. Palm oil prices are directly related to energy prices, with rising fossil fuel prices driving an increase in biodiesel production, which in turn raises palm oil prices. It is expected that by 2025, about 25% of global palm oil production will be used for energy-related purposes
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