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Astra Agro Lestari's CEO Santosa said the B35 biodiesel blend increase from 30% to 35% could add about 2 million tons to Indonesia's domestic palm oil demand. He estimated each 10-point blend increase lifts domestic demand by 3 to 3.5 million tons.
Indonesia's annual palm oil exports exceed 30 million tons, about two-thirds of output.
Diverting palm oil into biodiesel tightens exportable supply, supporting world palm and vegetable oil prices. Higher palm use in biodiesel also reduces feedstock available for soybean oil markets.
jakartaglobe.idJayanty Nada ShofaFeb 19, 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.
