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Malaysian Prime Minister Mahathir asked the UK to negotiate a free trade agreement after Brexit that treats palm oil more favorably in renewable fuel policy. The UK's future biodiesel market is seen as important by EU rapeseed, US soybean and palm oil producers.
A possible UK market opening for palm-based biofuel would add future demand, but the outcome is uncertain and far off, so the price effect is minimal today.
palmoilmonitor.orgKhalil Hegarty, Pierre Bois d’EnghienAug 22, 2019After 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.
