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A commentary says the EU-ASEAN ministerial meeting failed to upgrade ties to a strategic partnership, largely because Malaysia and Indonesia objected to the EU plan to phase out palm oil in biodiesel. Around half of EU palm oil imports go to biodiesel, and Indonesia's palm oil exports are worth about US$19 billion a year.
The unresolved dispute over the EU phase-out of palm oil biodiesel use leaves a long-term demand risk for palm oil, with no immediate supply change.
asc.fisipol.ugm.ac.idaseanscMay 13, 2019After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
