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Indonesia's Energy Ministry cut the assumed cost of converting crude palm oil into biodiesel by 20%, to $80 per tonne from $100. The biodiesel market price index was also lowered for June.
Cheaper biodiesel production makes the B30 blending mandate easier to fund from palm export levies, which supports domestic palm oil use for biofuel and firms palm oil prices.
biofuelsdigest.comMeghan SappJun 9, 2020After 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.
