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Malaysia will not file a WTO lawsuit against EU restrictions on palm-based biofuel and will instead lobby the EU during a 2021 review. The EU has excluded palm oil from renewable energy targets, so palm diesel will be phased out from 2024.
Indonesia has already filed its WTO case, and the two countries plan joint talks with the EU.
Dropping the suit removes a near-term legal route to reopening EU biofuel demand, so the phase-out keeps palm's EU biofuel outlet under pressure.
hydrocarbonprocessing.comFeb 13, 2020After 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.
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.
