Rise to FAME: Higher blending mandates in the EU driving demand for cargoes
Higher exports driven by cargoes out of China, Malaysia and Indonesia
Fatty acid methyl ester (FAME) exports from Asia to Europe climbed 58% YoY during January to April this year to around 490kt, as exports from both China and Malaysia nearly doubled, while shipments from Indonesia also rose. However, the European Commision’s anti-subsidy investigations recently launched on Indonesian biodiesel could weigh on shipments from the country going forward. Imports by the Netherlands recorded a three-fold jump this year to about 200kt. Both the Netherlands and Spain combined account for nearly 90% of the imported volumes as these are breakbulk destinations.