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Indonesia is devoting more palm oil to domestic use, shifting focus from exports toward biodiesel less than a year after its brief export ban. The article notes the country's push to boost domestic consumption as the EU steps up its deforestation rules.
Diverting palm oil to domestic biodiesel reduces exportable supply and adds to volatility in world palm prices. Uncertainty about export flows tends to support palm oil prices.
asia.nikkei.comYUJI YAMAMOTO, Nikkei staff writerFeb 7, 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.
