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Malaysia plans to file a complaint with the World Trade Organization by November to challenge a European Union move to curb palm oil use. Malaysia is the second-largest palm oil producer and exporter after Indonesia.
The dispute centres on the EU's decision to phase palm oil out of renewable transport fuel.
A WTO challenge can prolong uncertainty over EU palm oil demand for biofuels, which weighs on palm oil sentiment. The outcome is unlikely to change the market quickly, so the price effect is modest for now.
reuters.comJul 15, 2019After 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
