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Officials from Malaysia and Indonesia, which together supply about 85% of world palm oil, will travel to Brussels on April 8-9 to object to the EU delegated act restricting palm oil use in biofuel. The visit follows a Malaysian ministry statement.
The diplomatic push signals ongoing uncertainty over EU palm biofuel demand, which is a mild bearish factor for palm oil prices.
bloomberg.comAnuradha RaghuApr 6, 2019After 400 past bearish policy events, PALMOIL 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.
