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Indonesian biofuel association Aprobi said the country's biodiesel program, now at a 30% palm blend, has created jobs and reduced energy imports. Aprobi argued that domestic biodiesel use protects Indonesian palm prices from falling with world markets.
Domestic biodiesel demand absorbs palm oil supply and reinforces the mandate's role in supporting palm oil prices, though this is industry commentary rather than a new policy change.
cnbcindonesia.comFerry SandiJul 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.
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.
