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Asian countries are expanding domestic biofuels such as ethanol and palm-based biodiesel to reduce fossil fuel imports after crude prices jumped from about US$72 to around US$100 per barrel following the US-Israeli conflict with Iran. Indonesia plans a B50 palm biodiesel mandate from July 1, and India announced higher ethanol blend specifications.
Biofuel mandates divert palm oil and corn into fuel, tightening edible oil and feed supplies and supporting vegetable oil and grain prices.
straitstimes.comDebarshi Dasgupta, Wahyudi Soeriaatmadja, Lu Wei HoongMay 22, 2026After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
