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Indonesia's palm oil fund reportedly urged the government to rethink its biodiesel funding plan. The fund subsidises the price gap between palm-based fuel and fossil fuel, financed by export levies.
The mandatory bio-content is expected to rise to 40% next year.
Higher biodiesel blending absorbs more palm oil domestically and the levy funding strain could alter export levies, both of which shift palm and vegetable oil supply and prices.
reuters.comBernadette ChristinaNov 7, 2024After 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.
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.
