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NGIS reports on the European Parliament's September vote to ban imports of commodities linked to deforestation after 31 December 2019. The scope includes cattle, cocoa, coffee, palm oil, soy and wood, with due diligence requirements shifting the burden of proof to buyers.
A prospective import ban on palm oil and soy linked to recent deforestation would reduce EU demand for affected exports, a bearish factor if enacted in full.
ngis.com.auNov 15, 2022After 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.
