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Indonesia and Malaysia, which together account for about 85% of global palm oil exports, are pushing back against what they call discrimination over the EU deforestation law. The EU law bans imports of commodities linked to deforestation, which is expected to hurt palm oil.
The two countries are seeking to contest the measure.
Trade friction over EU rules can cut palm oil shipments to Europe and add uncertainty to palm oil prices. Any resolution would reduce that pressure.
reuters.comJun 8, 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.
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.
