◂ Event Timeline

Aug 17, 2023TRADEEU

EU starts probe on Indonesian biodiesel avoiding import duties

The European Union launched a probe into Indonesian palm-oil-based biodiesel that may be avoiding EU import duties. The investigation follows concerns that the product is being shipped to Europe through other origins.

WHY IT MATTERS

If the probe tightens duties on Indonesian biodiesel, demand for Indonesian palm oil in the EU biodiesel channel could fall, pressuring palm oil prices.

AFFECTSPALMOIL▼

SOURCE
reuters.comAug 17, 2023

Price reaction & history

PALMOIL▼bearishSO FAR1d +0.9%5d +0.1%20d -1.3%

After 158 past bearish trade events, PALMOIL moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.

Jul 25, 2019EU plans to impose import duties on Indonesia biodiesel | The Star+0.2%
Aug 7, 2019EU imposes duties of up to 18 percent on Indonesian biodiese - Business - The Jakarta Post+3.7%
Aug 26, 2023EU to investigate alleged Indonesian biodiesel import tax evasion - Fastmarkets+4.7%
May 24, 2017NBB testifies on damage done by Indonesian biodiesel imports - Biofuels International Magazine-0.7%
Oct 25, 2017Indonesia to Challenge U.S Antidumping Duty on Biodiesel - The Insiders Stories+0.3%

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.

PALMOIL · GP ▸

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