Loading…
Indonesia says its B35 biodiesel ramp-up is slow, with palm-based biodiesel use reaching only 2.1 million kiloliters from January to mid-March, versus 2.5 million a year earlier. Indonesia will keep its 35% blend target for 2023 and give fuel retailers until mid-year to adjust.
Malaysia also plans new palm oil export hubs in Egypt and Saudi Arabia.
Weaker-than-planned biodiesel absorption leaves more palm oil available for export, a bearish factor, while the target keeps long-run domestic demand supported.
cspo-watch.comMar 30, 2023After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% over 20.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
