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Indonesia and Malaysia, the world's largest palm oil producers, plan to send envoys to the European Union to discuss the impact of the bloc's new deforestation law. The law requires due diligence statements showing where commodities were produced and proof they were not grown on land deforested after 2020.
Diplomatic pushback signals possible friction over EU palm oil access, which could tighten EU-bound supply and support palm prices. The outcome remains uncertain, so the price impact is modest for now.
reuters.comFeb 9, 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.
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.
