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Indonesia confirmed it will keep its rule requiring palm oil exporters to sell domestically, with exports limited to four times domestic sales. The country will fully implement its B35 biodiesel mandate starting 1 August, after a grace period for some regions.
The B35 mandate diverts more palm oil into biodiesel and the domestic market, reducing exportable supply and supporting global palm oil prices.
businesstimes.com.sgJul 17, 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.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
