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Indonesia launched its biodiesel programme in January with a mandatory 35% palm oil content, up from 30%. The change raises domestic crude palm oil use by about 2 million tonnes to 2.5 million tonnes.
GAPKI expects Indonesian palm oil exports and production to fall in 2023.
Diverting more palm oil into domestic biodiesel reduces exportable supply, supporting world palm oil and vegetable oil prices.
grains.orgMar 23, 2023
reuters.comMei Mei ChuMar 8, 2023After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
After 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.
