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EIA welcomed the European Commission's planned deforestation road map and consultation, which precedes detailed actions expected in mid-2019. The NGO urged the Commission to adopt binding due diligence regulation covering palm oil, soy and beef imports.
A possible binding EU import regulation on deforestation-linked commodities would be a longer-term bearish factor for palm oil and soy demand from Europe. No immediate supply change results from the advocacy statement.
eia-international.orgEIADec 5, 2018After 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 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
