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Malaysia is moving to escalate its WTO dispute with the European Union over the bloc's renewable energy directive, which restricts palm-based biofuels. Malaysia's request for a dispute panel was set to be formalised at a WTO meeting on May 28.
Malaysia exported 1.94 million tonnes of palm oil to the EU in 2020.
The EU rule would phase palm-based diesel out of transport use by 2030, which limits a key biofuel outlet for palm oil. Escalation extends uncertainty but does not change trade flows immediately.
malaymail.comMay 28, 2021After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
