# EU-ASEAN Summit Witnesses a New Conciliatory Approach to Palm Oil — CSPO

> At the 23rd ASEAN-EU Ministerial Meeting on 1 December 2020, both sides agreed to launch a joint working group on sustainable vegetable oils, including palm oil. The group is due to meet in January 2021 and is expected to review rapeseed, sunflower and soy against sustainability standards.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: policy · region EU · magnitude medium
- Page: https://feedsoft.ai/events/49672-eu-asean-summit-witnesses-a-new-conciliatory-approach-to-palm-oil-cspo
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A shift toward accepting palm oil within EU sustainability policy would reduce the risk of EU market restrictions and support palm oil demand. Rival vegetable oils would face a comparable review.

## Read by commodity

- SOY: neutral
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-02-23 | [The Palm Oil Industry is Changing — and the EU Can Help — CSPO](https://feedsoft.ai/events/48669-the-palm-oil-industry-is-changing-and-the-eu-can-help-cspo.md) | +2.8% | +8.4% |
| PALMOIL | 2023-01-03 | [Businesses have no problem with palm oil export tightened](https://feedsoft.ai/events/15764-businesses-have-no-problem-with-palm-oil-export-tightened.md) | +4.8% | +1.2% |
| PALMOIL | 2022-12-30 | [Indonesia will export less palm oil to keep supplies at home \|  Bloomberg News](https://feedsoft.ai/events/9245-indonesia-will-export-less-palm-oil-to-keep-supplies-at-home-bloomberg-news.md) | +3.1% | +1.5% |
| PALMOIL | 2022-03-09 | [Indonesia tightens palm oil export curbs in new hit to global supplies \| Reuters](https://feedsoft.ai/events/42374-indonesia-tightens-palm-oil-export-curbs-in-new-hit-to-global-supplies-reuters.md) | -2.3% | -9.2% |
| PALMOIL | 2021-06-22 | [Indonesia's new palm oil levy likely to lift exporters' profit margin](https://feedsoft.ai/events/46454-indonesia-s-new-palm-oil-levy-likely-to-lift-exporters-profit-margin.md) | +0.7% | +9.2% |
| SOY | 2025-04-15 | [EUDR Deadline Approaching: Time to Familiarize Yourself with the New Compliance System](https://feedsoft.ai/events/25152-eudr-deadline-approaching-time-to-familiarize-yourself-with-the-new-compliance.md) | -0.6% | +2.4% |
| SOY | 2024-09-27 | [Malaysia to support palm oil producers' compliance with EU deforestation law \| Reuters](https://feedsoft.ai/events/28329-malaysia-to-support-palm-oil-producers-compliance-with-eu-deforestation-law.md) | +0.5% | -4.3% |
| SOY | 2026-06-30 | [EU Adds Palm Oil for Medicines, Soy Seeds to Deforestation Carve-Out - Bloomberg](https://feedsoft.ai/events/18815-eu-adds-palm-oil-for-medicines-soy-seeds-to-deforestation-carve-out-bloomberg.md) | +7.9% | +9.3% |

## Sources

- thecspo.org: https://thecspo.org/eu-asean-summit-witnesses-a-new-conciliatory-approach-to-palm-oil/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.