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Traders say a narrowing spread between palm oil and gasoil is making palm-based biodiesel more economic. The spread change could encourage higher biodiesel output in Indonesia and Malaysia and support domestic blending mandates.
More palm oil diverted into biodiesel tightens edible vegetable oil supply, which is supportive for palm oil prices.
qcintel.comJun 28, 2024Not enough comparable past events yet for a historical read.
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.
