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Indonesia's energy ministry is reviewing options to divert 3 to 5 million tonnes of crude palm oil originally bound for Europe to the domestic B50 biodiesel programme. The idea was raised by the agriculture minister as a response to EU Deforestation Regulation restrictions.
Officials suggested higher export levies could follow.
Redirecting several million tonnes into domestic biodiesel would tighten global palm oil export supply and support international prices.
voi.idDony AprianSep 10, 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.
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.
