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The European Commission officially approved a delegated act to phase out palm oil-based biofuel by 2030, without banning it outright. Indonesia and Malaysia, which produce 85 percent of global palm oil, call the move discriminatory and plan a response including WTO action and retaliation.
Phasing out palm biodiesel in the EU reduces demand for palm oil and raises the risk of trade retaliation against EU goods, bearish for palm oil prices and supportive for competing vegetable oils.
news.mongabay.comHans Nicholas JongMar 15, 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.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
