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Regulation (EU) 2023/1115 was adopted on 31 May 2023 and published in the Official Journal on 9 June. It entered into force on 29 June 2023, with main prohibitions and obligations applying from 30 December 2024.
The regulation covers palm oil, soya, wood, cocoa, coffee, cattle and rubber, and the Commission must review the product list, including biofuels, by 30 June 2025.
The rules create a compliance requirement for palm oil and soy shipments into the EU, which can reduce traded volumes and widen discounts for non-compliant supply. The biofuel review could further affect vegetable oil demand.
mayerbrown.comJun 12, 2023After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
