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The European Commission opened an investigation into suspected evasion of EU countervailing duties on Indonesian biodiesel routed through China and the UK. The probe followed a request from the European Biodiesel Board, and Indonesia has filed a WTO complaint.
Enforcement against trade circumvention could reduce Indonesian biodiesel flows into Europe, weakening demand for palm oil used in biodiesel.
fastmarkets.comAlexandra Chapman, the Fastmarkets team, Misha SimonovskaAug 26, 2023After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
