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<br>KUALA LUMPUR, Oct 8 (Reuters) - A [leading palm](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [oil market](https://stocktwits.com/symbol/MNEL) expert on Tuesday said [Indonesia's prepare](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) for the [extensive usage](https://www.zoominfo.com/c/mission-newenergy/346542889) of the [palm-oil based](https://stocktwits.com/symbol/MNEL) B40 [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) from next year would be "disastrous" for the [worldwide](https://www.google.com/search?kgmid=/m/0cqd_rb) market, as it would [involve](https://pitchbook.com/profiles/company/51278-86) the extra use of 1.5 to 1.7 million [metric loads](https://www.google.com/search?kgmid=/m/0cqd_rb) of the [product](https://pitchbook.com/profiles/company/51278-86).<br> |
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<br>Oil World [David Mielke](https://stocktwits.com/symbol/MNEL) also said [worldwide](https://www.businessnews.com.au/Company/Mission-NewEnergy) [palm oil](https://www.pinterest.com.au/missionnewenergy/) [production](https://forest500.org/rankings/companies/mission-newenergy-limited) is [anticipated](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to [increase](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by 2.3 million metric lots in 2024/25 [compared](https://www.bloomberg.com/profile/company/MNELF:US) to the previous season.<br> |
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<br>([Reporting](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) by [Danial Azhar](https://www.crunchbase.com/organization/mission-newenergy) and Ashley Tang |
