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Indonesia's Trade Ministry said the EU is pursuing a protectionist strategy to isolate biodiesel exports. The ministry argues Indonesian palm-based biodiesel is more competitive than EU products made from sunflower seed.
The proposed 8% to 18% duties are set to apply from September 6, 2019, becoming definitive in January 2020.
The reaction signals that Indonesia is likely to contest the duties, which keeps uncertainty over palm biodiesel exports elevated. The impact on palm oil prices is limited because the duties are not yet in force.
en.tempo.coRicky Mohammad NugrahaJul 26, 2019After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
