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The Malaysian Palm Oil Council CEO said Malaysia cannot replace fossil fuel with palm biodiesel, since its roughly 20 million tonnes of output is insufficient and biodiesel costs more than petroleum. Globally about 80% of palm oil goes to food and 20% to non-food, including biofuel.
Limited palm supply for biodiesel caps how far biofuel mandates can lift palm demand, so the commentary offers little near-term price driver.
aseanenergy.orgJan 25, 2020After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
