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Maybank Kim Eng says Indonesia remains committed to its B30 biodiesel programme despite a wider palm oil-gas oil spread. The analysts keep their CPO price forecast at MYR2,300 per tonne for 2020 and expect the recent levy and conversion changes to be roughly net-neutral for earnings.
Confirmed continuation of the B30 mandate supports sustained domestic palm oil demand, though the analysts see little change to the price outlook.
research.sginvestors.ioSGinvestorsJun 11, 2020After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
