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The European Commission proposed delaying the EU Deforestation Regulation by one year. The rule would have required importers of soy, beef, cocoa, coffee, palm oil, timber and rubber to prove their supply chains did not contribute to deforestation, or face fines.
A one-year delay removes an immediate compliance deadline for major feed and oilseed importers into the EU. This reduces near-term disruption risk for soy and palm oil flows and is mildly bullish for palm oil prices.
reuters.comBart Meijer, May AngelOct 2, 2024After 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 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
