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The leaders of Indonesia and Malaysia, the world's two largest palm oil producers, sent a letter to the European Union objecting to its decision to no longer count palm oil as a green fuel. The letter also warned of threats to EU ties with the region.
EU restrictions on palm-based biofuel reduce a demand outlet for palm oil, which is bearish for palm prices, though retaliation risk adds volatility.
reuters.comBernadette Christina MuntheApr 9, 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.
