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Malaysia's commodities minister said the country remains committed to progressively raising its biodiesel blending mandate, which is currently 20%. The statement came at a meeting of the Council of Palm Oil Producing Countries, which also noted Indonesia's raised 35% mandate.
A firmer biodiesel mandate would increase domestic palm oil and soyoil use for fuel, supporting vegetable oil demand. The timing is uncertain because expansion will be phased in as blending facilities are ready.
english.kontan.co.idWahyu Tri RahmawatiMay 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.
