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Indonesia's Energy Ministry said the government aims to raise its palm-based biodiesel mandate to 50% of gas oil supply by 2028. The current B35 blend is set to rise to B40 in 2025.
Analysts estimate a 50% blend would divert about 5 million tonnes of palm oil from exports to domestic use.
Diverting roughly 5 million tonnes of palm oil from exports would tighten global vegetable oil supply, supporting palm and soybean oil prices, while meal and feed-oil balances shift.
spglobal.comNov 7, 2024After 548 past bullish policy events, PALMOIL 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, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 27 past neutral policy events, DIESEL moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% 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.
