Palm oil rally sparked by growing biodiesel use in Malaysia and Indonesia

After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.

• Feb 5, 2023Indonesia’s crude palm oil exports to drop further as more palm oil goes to biodiesel - Opinion+0.8%
• Nov 7, 2019Total palm oil output of Indonesia, Malaysia seen flat in 2020 - analyst Mistry+0.6%
• Feb 4, 2021Indonesia's palm oil-powered 'green diesel' fuels threat to forests+8.2%
• Mar 27, 2023Malaysia: Boost in demand for palm oil seen on supply recovery+1.1%
• Mar 25, 2021Indonesia’s end-2021 palm oil stocks seen plunging - Markets - Business Recorder-1.3%

After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.

• Feb 5, 2023Indonesia’s crude palm oil exports to drop further as more palm oil goes to biodiesel - Opinion-1.5%
• Mar 27, 2023Malaysia: Boost in demand for palm oil seen on supply recovery-0.6%
• Feb 4, 2021WASDE forecasts rise in use of soyabean oil in biodiesel+1.9%
• Mar 20, 2023OPINION: Despite Rising Demand, Palm Oil Cannot Make Big Market Sway - Gabungan Pengusaha Kelapa Sawit Indonesia (GAPKI)-1.6%
• Jul 31, 2020US biodiesel production ticks up in May, soybean oil use hits 70% | Biodiesel Magazine+5.1%