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Indonesia and Malaysia, the world's largest palm oil producers, are boosting domestic use through jet fuel development and expanded biodiesel programs. The push follows weak palm oil prices, a worsening outlook and deforestation-related backlash.
Higher domestic biofuel use absorbs palm oil supply and can support prices. The policy shift is a meaningful offset to weak export demand.
asia.nikkei.comERWIDA MAULIASep 3, 2023After 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.
